Seagate Tech announces a secondary block trade transaction of approximately 12.5 million ordinary and existing shares with ValueAct Capital
ValueAct Capital will become one of its largest shareholders with approximately 9.5 million ordinary shares upon transaction closing. In connection with the transaction, ValueAct has been invited to serve as an observer on Seagate's Board of Directors. The transaction is conditioned on customary regulatory approval which is expected by the end of September.