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Seagate agrees to buy Maxtor

Under the terms of the deal, as reported by the Journal, the transaction is worth about $7.25 a share for Maxtor investors, a 60 percent premium to its closing price on Tuesday. 
Both the Seagate and Maxtor boards have approved the deal, the paper reported, which will unit two big hard drive makers.The Journal, citing people familiar with the deal, said the companies are likely to argue to antitrust regulators that consumers would benefit because of cost efficiencies, among other things. 

Neither Seagate nor Maxtor representatives could be immediately reached for comment.

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