Morningstar Analyst Says Samsung-Seagate Buyout Rumor 'Seems A Bit Odd'

Speaking to Benzinga, Morningstar analyst Simran Kaur said that a rumored $72 tender offer for Seagate Technology PLC STX from Samsung “seems a bit odd.”

Kaur explained that Samsung sold its hard drive business to Seagate just a few years ago. She added that Samsung and Seagate already have a supply agreement, where Seagate sources its NAND from Samsung.

Shares of Seagate were trading 0.32 percent higher in Thursday’s session.

Brianna Valleskey contributed to this report.