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10.04.2000 - Maxtor and Quantum's HDD Unit Agree to Merge



View HardDrive related news. Maxtor Corporation (NASDAQ: MXTR) and Quantum Corporation (NYSE: DSS)(NYSE: HDD) today announced a definitive agreement to combine Maxtor and Quantum HDD, Quantum's Hard Disk Drive Group, in an all-stock transaction that will create the world's leading disk drive company. Quantum's HDD stockholders will receive 1.52 shares of Maxtor common stock for every share of HDD common stock they own. Based on the current market capitalizations of Maxtor and Quantum HDD, the transaction is valued at approximately $2.3 billion.

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NID: 16 / Submitted by: TACKtech Team
Categories: Press Release
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