8-KOther EventsExhibits & Filings

Seagate Technology Holdings plc 8-K Report, Corporate Update (May 17, 2006)

Filed May 17, 2006For Securities:STX

Summary

This 8-K filing from Seagate Technology Holdings plc, dated May 17, 2006, announces a significant development regarding its proposed acquisition of Maxtor Corporation. Both Seagate and Maxtor shareholders have approved the definitive merger agreement, which is an all-stock transaction. With all necessary regulatory and shareholder approvals now secured, the transaction is expected to close within the next 2-3 business days. Following the completion of the merger, Maxtor shares will be delisted from the New York Stock Exchange. Investors should note that this filing serves as a notification that key approvals are in place, paving the way for the completion of the acquisition. The company reiterates the importance of reviewing the previously filed Joint Proxy Statement/Prospectus for comprehensive details on the transaction. This development signifies a major step in Seagate's strategic expansion within the storage industry.

Key Highlights

  • 1Shareholder approval received from both Seagate Technology and Maxtor Corporation for the merger.
  • 2The acquisition is structured as an all-stock transaction.
  • 3All required regulatory and shareholder approvals are now secured.
  • 4The transaction is expected to close in 2-3 business days.
  • 5Maxtor shares will cease to be listed on the New York Stock Exchange upon closing.
  • 6The filing includes a press release dated May 17, 2006, as Exhibit 99.1.

Frequently Asked Questions

The main event is the announcement that shareholders of both Seagate Technology and Maxtor Corporation have approved the definitive merger agreement, clearing the way for Seagate's acquisition of Maxtor.

The transaction is expected to close in 2-3 business days from the filing date of May 17, 2006.

Upon closing of the transaction, Maxtor shares will cease to be listed on the New York Stock Exchange.

Investors are urged to read the Joint Proxy Statement/Prospectus filed with the SEC, as well as other documents filed by Seagate and Maxtor. Free copies can be obtained from the SEC's website (www.sec.gov) or directly from Seagate and Maxtor Investor Relations.