ValueAct Will Become One of Seagate's (STX) Largest Shareholders Following Transaction
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Seagate Technology Executes Secondary Block Trade Transaction with ValueAct Capital
September 9, 2016 9:00 AM EDTCUPERTINO, Calif.--(BUSINESS WIRE)-- Seagate Technology plc (NASDAQ: STX), a world leader in storage solutions, today announced a secondary block trade transaction of approximately 12.5 million ordinary and existing shares. Participating in this transaction are ValueAct Capital and Seagate Technology, as a result of which ValueAct Capital will become one of Seagates largest shareholders with approximately 9.5 million ordinary shares upon transaction closing. In connection with the transaction, ValueAct has been invited to serve as an observer on Seagates Board of Directors. The transaction is conditioned on customary regulatory approval which is expected by the... More
