Seagate has announced that it has received a preliminary indication of interest regarding a going private transaction. The company is in discussions with the party from whom it received the indication of interest, and its board of directors is evaluating the indication of interest and other strategic alternatives.
The company has retained Morgan Stanley & Co. Incorporated and Perella Weinberg Partners LP to provide financial advice and Wilson Sonsini Goodrich & Rosati and Arthur Cox as legal counsel.
Seagate said that there is no assurance that the company will receive a formal offer or that any transaction will take place.
According to a report by Reuters, last month, TPG Capital LP and Silver Lake held early stage talks about buying Seagate, but it then appeared unlikely to result in a deal, a source familiar with the situation said at the time.
Seagate also said that neither the company nor its representatives will be providing any additional comments regarding the preliminary indication of interest.