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No, Seagate won’t be Chinese

The largest manufacturer of hard drives denies rumors about its possible acquisition by an unnamed Chinese buyer.

According to a Seagate Technology spokesman, the company has not received such an offer and has no intention of being sold.

Recall that the source of incorrect information was the New York Times, which, referring to an interview with the head of the company, William Watkins, reported an interest in the acquisition of Seagate, allegedly expressed by a Chinese company.

According to recent reports, Watkins was referring to the increasing interest in storage technology from Chinese, Japanese and Korean companies, aligned with the positions of the governments of the listed countries, which turns the production of hard disk drives into a “national project.”.

“For clarity, Seagate has not received such an offer, and we are not trying to sell the company,” – said the head of Seagate.

By the way, today the company published an updated forecast of the results of the first quarter of the 2021 fiscal year, which Seagate ends on September 28 of this year. In short, the main indicators have been adjusted upwards from the previously mentioned values. So, the expected income is in the range of 3.15-3.25 billion. Doll. (previously 2.9-3.0 billion. Doll.), and diluted earnings per share (net income attributable to one ordinary share, calculated taking into account both outstanding ordinary shares and shares that can be issued upon conversion of bonds, preferred shares and certain other convertible debentures, and GAAP-based stock warrants are forecasted at $ 0.57-0.61 (previously $ 0.35-0.39).

Source: Reuters

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