LOS ANGELES, Oct 28 (Reuters) - Shares in hard drive maker Seagate Technology PLC slid more than 8 percent on Thursday on reports that talks with private equity firms to take the company private were going slowly.
Seagate closed at $13.94 on Nasdaq.
The company earlier this month confirmed that it has received interest regarding a possible deal to go private.
But Bloomberg and the Wall Street Journal reported on Thursday that private equity firm Kohlberg Kravis Roberts & Co has dropped out of the bidding group for Seagate. The firm was previously said to be interested in Seagate.
(Reporting by Alex Dobuzinskis: Editing by Gunna Dickson ) Keywords: SEAGATE/SHARES (alex.dobuzinskis@thomsonreuters.com; 1 213-955-6781) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Seagate closed at $13.94 on Nasdaq.
The company earlier this month confirmed that it has received interest regarding a possible deal to go private.
But Bloomberg and the Wall Street Journal reported on Thursday that private equity firm Kohlberg Kravis Roberts & Co has dropped out of the bidding group for Seagate. The firm was previously said to be interested in Seagate.
(Reporting by Alex Dobuzinskis: Editing by Gunna Dickson ) Keywords: SEAGATE/SHARES (alex.dobuzinskis@thomsonreuters.com; 1 213-955-6781) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.