Seagate’s acquisition of Maxtor has been approved

At the end of last year we reported about how Seagate would purchase Maxtor, one of its rivals on the harddrive market. Now the final approval has been granted from all current stockholders, which Seagate hopes to benefit its development of harddrive technologies and make it possible to manufacture more and better products. The stock transaction is expected to be finished on Monday, May 22, when the New York stock exchange opens without Maxtor’s stocks listed. Maxtor’s stockholders will get 0.37 Seagate stocks for each Maxtor stock. What this will mean for the harddrive market, except from the fact that Maxtor as a brand will disappear, remains to be seen.