Seagate Technology (http://www.seagate.com), which specializes in hard disk drives and storage solutions, and LaCie (http://www.lacie.com), a manufacturer of consumer storage products, have announced an exclusive agreement with the intent for Seagate to acquire a controlling interest in LaCie.
Seagate has offered to purchase from Philippe Spruch, LaCie’s chairman and CEO, and his affiliate, all of their shares, representing 64.5% of the outstanding shares of LaCie. Following receipt of governmental approvals1 and the close of this transaction, Seagate would commence an all-cash simplified tender offer (followed as the case may be by a squeeze-out procedure) to acquire the remaining outstanding shares in accordance with the General Regulation of the French Autorité des Marchés Financiers (AMF).
