14 DAY TRIAL // In buying LaCie, as it announced it would, last month (May 2012), Seagate was quite efficient and quick on its feet, having acquired a dominant market share from the former's leaders.
According to the latest press announcement on the matter, Seagate has bought 64.5% of LaCie's outstanding shares from Philippe Spruch, LaCie’s chairman and CEO, and his affiliate.
This would be the latest digital storage device manufacturer that Seagate has brought under its fold.
The provisional price is of 4.05 Euro per share, or $5.10 if exchange rates are to have a say in the matter. Depending on the cash and debt position of LaCie, the price may be lowered later on.
"The transaction would combine two highly complementary product and technology portfolios, adding LaCie’s line of premium branded consumer storage solutions, network-attached storage solutions and software offerings to Seagate’s array of mainstream consumer storage products," Seagate said last month.
"The combination would accelerate Seagate’s growth strategy in the expanding consumer storage market, particularly in Europe and Japan, and add strong engineering and software development capabilities, as well as relationships with several key retailers."
As it happens, Seagate will try to acquire the rest of LaCie's shares through an all-cash simplified tender offer.
The price will be the same as above, unless a squeeze-out procedure is implemented (if 95% of the shares and voting rights are acquired), in which case the sum could rise to 4.17 Euro / $5.25.
"As previously announced, Ricol Lasteyrie & Associés have been appointed as independent expert by the Board of Directors of LaCie on June 23, 2012," Seagate said.
"The transaction has already received clearance from the US Antitrust Authorities but remains subject to regulatory approval in France (approval of foreign investments by the Ministry of Finance) and Germany (antitrust filing) and to other customary closing conditions."