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Seagate to buy Xyratex for $374 mln

Monday, 23 Dec 2013 | 8:39 AM ET

Dec 23 (Reuters) - Hard-disk drive maker Seagate Technology Plc said it would buy network and storage equipment maker Xyratex Ltd for about $374 million in cash.

Seagate's offer of $13.25 per share is at a premium of 27 percent to Xyratex's closing price on Friday.

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