Bloomberg News

Seagate Acquisition of Samsung Hard-Disk Unit Approved by EU

October 19, 2011

Oct. 19 (Bloomberg) -- Seagate Technology Plc won European Union approval to buy Samsung Electronics Co Ltd’s unprofitable hard-disk storage unit as shrinking sales accelerates consolidation in the industry.

The European Commission said in a statement today that the deal won’t “significantly impede effective competition” in the region.

--Editors: Anthony Aarons

To contact the reporter on this story: Aoife White in Brussels at awhite62@bloomberg.net

To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net


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