Seagate to employees: Company not for sale

Market reports have been talking about a Chinese company which has shown interest in acquiring Seagate Technology.

The company has now told its employees that it is not for sale and they do not have to worry about such a possibility.

Seagate could become a target for companies based in China, Korea and Japan.

They further stated that they have not received such an offer from any company as rumored in the media.

Seagate Chief Executive Bill Watkins was stated in an interview saying that a Chinese technology company had expressed interest in buying the US based company.