Evening Update: PepsiCo Expects Earnings Boost From Frito-Lay Sales
Seagate Technology (SEG Quote), the leading maker of computer disk drives, said it would be acquired by an investor group, Silver Lake Partners, that includes its management in a complex deal that would sell its 33% stake in Veritas Software (VRTS Quote) back to that company. The Veritas stake accounts for most of Seagate's stock market value. The companies valued the stock and cash deal at $20.2 billion. For more on Seagate's acquisition, check out a story written this evening by TheStreet.com-NYTimes.com joint newsroom. Separately, Standard & Poor's said that Veritas would replace Pep Boys (PBY Quote) (but what'll happen to Manny, Mo and Jack?) in the S&P 500. S&P added that Edwards Lifesciences(EW Quote) will fill Veritas' former spot in the S&P MidCap 400 and Pep Boys would take over 911 services provider Rural/Metro(RURL Quote) in the S&P SmallCap 600.
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Mergers, acquisitions and joint ventures
Earnings/revenue reports
Offerings and stock actions
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