Seagate Announces New $2.3B Share Repurchase Authorization

Seagate today announced that its Board of Directors has authorized the Company to repurchase up to $2.3 billion of its outstanding ordinary shares (the “October 2018 Authorization”).  As a result of the October 2018 Authorization, Seagate currently has an aggregate authority to repurchase approximately $3.0 billion of its ordinary shares. Share repurchases under the October 2018 Authorization may be made through a variety of methods, which may include open market purchases, privately negotiated transactions, block trades, accelerated share repurchase transactions, or by any combination of such methods. The timing and actual number of shares repurchased will depend on a variety of factors including the ordinary share price, corporate and regulatory requirements and other market and economic conditions. The share repurchase authorization may be suspended or discontinued at any time.