Seagate and LaCie announce Acquisition

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

Seagate and LaCie announce Acquisition 
Seagate Technology and LaCie have announced that Seagate, Philippe Spruch, LaCie’s Chairman & CEO, and his affiliate, have entered into a binding share purchase agreement to purchase all of the shares of Philippe Spruch and his affiliate, representing 64.5% of the shares of LaCie for a provisional price of €4.05 per share.
As previously announced, Ricol Lasteyrie & Associés has been appointed as an independent expert by the Board of Directors of LaCie on June 23, 2012. The transaction has already received clearance from the US Antitrust Authorities, but remains subject to regulatory approval in France and Germany (antitrust filing) and to other customary closing conditions.
Following the acquisition of the control of LaCie, Seagate will file an all-cash simplified tender offer on the remaining LaCie shares at a price of €4.05 (as potentially adjusted downwards as set forth above). This price shall be increased by 3% in the event that a squeeze-out procedure is implemented (as a result of the acquisition of 95% of the shares and voting rights), resulting in a maximum potential price per LaCie share of €4.17.

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