Seagate just purchased Maxtor

"This morning's news gives little indication that much of Maxtor's product line, management team, or heritage will be left behind. For each share of Maxtor common stock that shareholders currently own, they will receive 0.37 shares of Seagate stock. After the swap is completed in the second half of 2006 - pending US regulator approval - Maxtor shareholders will collectively own only 16% of the combined, new Seagate. The Maxtor name will also vanish, as apparently will most of its management, though Maxtor CEO Dr. C. S. Park will take a seat on Seagate's board of directors. Corporate headquarters will be located in Seagate's current home in Scotts Valley."


"In an interview with MarketWatch, Seagate CEO Bill Watkins acknowledged that both companies make essentially the same products, though Seagate stands a lot to gain through its acquisition of Maxtor's manufacturing facilities in China and East Asia. According to the Bangkok Post this morning, a possible relocation of Seagate's manufacturing focus to China could threaten its current Thai facilities established in 2000, where the company had once employed as many as 50,000, but which has since scaled back to one-third that number."

http://www.tgdaily.com/2005/12/21/se...quires_maxtor/