FTC Asked Seagate for More Information

On May 20, 2011, Seagate Technology plc received a request for additional information from the U.S. Federal Trade Commission in connection with the FTC’s review of Seagate’s pending acquisition of certain assets of Samsung Electronics Co., Ltd. and Samsung’s proposed acquisition of certain voting securities of Seagate pursuant to that certain Asset Purchase Agreement entered into by and among the parties on April 19, 2011.

This second request extends the waiting period imposed by the Hart-Scott-Rodino Antitrust Improvements Act of 1976 until 30 days after Seagate has substantially complied with the second request unless that period is extended voluntarily by the parties or terminated sooner by the FTC. Seagate is in the process of gathering information to respond to the second request and is working cooperatively with the FTC as it reviews the proposed transaction.

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