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transaction

Samsung divests its hard-drive unit, sells to Seagate

April 19th, 2011

Reuters is reporting that Samsung Electronics has agreed to sell its hard drive business to Seagate Technology for $1.4 billion in cash and stock. The move is seen as two pronged: first, it will allow Samsung to exit an extremely competitive market and refocus its efforts on its successful memory-chip business. Secondly, it will allow Seagate to be more competitive with …

Sprint urges government to oppose AT&T’s acquisition of T-Mobile

March 28th, 2011

Sprint CEO Dan Hesse has already expressed his concerns about AT&T’s purchase of T-Mobile from Deutsche Telecom, but today Sprint officially announced its opposition to the deal in a press release. Sprint states that the transaction will create a carrier that’s roughly three times its size — in terms of revenue — and “reverse nearly three decades …