Mergers News

Seagate says no buy interest from Chinese firm

HONG KONG, Aug 28 (Reuters) - Seagate Technology STX.N, the world's largest disk drives maker, dashed speculation that a Chinese firm has expressed interest in buying the firm, saying it had received no such offer and there was no intention to sell.

The New York Times reported this month that a Chinese technology firm had made overtures to Seagate, citing an interview with Chief Executive William Watkins.

But the U.S. disk drives giant said in a statement on Tuesday that Watkins had actually referred to growing interest in disk drives technology from companies in China, Japan and Korea, which he said had made disk drive storage “a national agenda”.

“Just to be clear, Seagate has not recived such an offer and we are not trying to sell the company,” Seagate said in a corporate statement provided to Reuters on Tuesday.