Seagate Technology PLC says it is in discussions with an unnamed party that is interested in taking the company private. The company announced on Thursday that it had received a preliminary indication of interest regarding a going private transaction. The company is in discussions with the party from whom it received the indication of interest, and its board of directors is evaluating the indication of interest and other strategic alternatives. Seagate has retained Morgan Stanley & Co. Incorporated and Perella Weinberg Partners LP to provide financial advice and Wilson Sonsini Goodrich & Rosati and Arthur Cox as legal counsel. Seagate added that there is no assurance that the company would receive a formal offer or that any transaction would take place.

"Neither the company nor its representatives will be providing any additional comments regarding the preliminary indication of interest," Seagate added.