TPG & KKR in talks to acquire Seagate Tech

NEW YORK: TPG Capital and KKR & Co are in talks to acquire Seagate Technology, a deal that would mark the disk-drive maker’s second leveraged buyout in a decade, according to people with direct knowledge of the discussions.

The private-equity firms are considering an offer of about $16 a share, which would value the company at $7.55 billion, said two of the people, who declined to be identified because the discussions are private.

The firms are looking to contribute about $4 billion in equity and may seek other buyout funds as partners, the people said. Bain Capital also is interested in the deal, according to one person familiar with the firxm.