Hard Drive Makers to Merge

The proposed merger of Seagate and Maxtor would bring together two of the largest hard drive companies and is worth approximately $1.9 billion.

Two of the largest hard drive manufacturers today announced a planned merger worth $1.9 billion. Subject to obtaining shareholder approval as well as regulatory, the combined company would find Seagate acquiring Maxtor.

Under the terms of the deal, Maxtor shareholders would receive .37 shares of Seagate stock for each share of Maxtor they own. Seagate said the combined company