The Wall Street Journal Covers Xyratex Deal for $374 Million

Firm News

The Wall Street Journal and Yahoo! Finance reported on the announcement by data-storage companies Seagate Technology plc and Xyratex Ltd that they have entered into a definitive agreement under which Seagate will acquire all of the outstanding shares of Xyratex for $13.25 per share in cash, or a total of approximately $374 million. Olshan attorneys Steve Wolosky and Michael Neidell represented Baker Street Capital Management, LLC, Xyratex’s largest shareholder owning over 22% of the outstanding shares, in negotiating a voting agreement in favor of the transaction that helped pave the way for the deal.

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