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Seagate Completes Acquisition of Intevac

1. Seagate completes acquisition of Intevac, offering $4.00 per share. 2. Intevac is now a subsidiary of Seagate, impacting its future growth.

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FAQ

Why Bullish?

The acquisition may stabilize Intevac's stock, similar to past tech acquisitions that led to price increases.

How important is it?

The acquisition directly impacts IVAC, changing its market position and valuation.

Why Short Term?

The immediate cash offer will enhance liquidity for Intevac shareholders post-acquisition.

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STX
FREMONT, Calif.--(BUSINESS WIRE)--Seagate Technology Holdings plc (Nasdaq: STX) (“Seagate”), a leading innovator of mass-capacity data storage, announced today that it has completed the acquisition of Intevac, Inc. (Nasdaq: IVAC) (“Intevac”), a supplier of thin-film processing systems. Completion of Tender Offer and Merger The previously announced cash tender offer for all of the outstanding shares of common stock of Intevac for $4.00 per share, payable in cash at closing, without interest and.

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