Storage solutions provider Seagate Technology has received an offer for buying out the company's public holdings, which would lead to its delisting from the New York Stock Exchange.
Seagate, which has presence in India, has not disclosed about the suitor and the overall offer.
Going by media reports, leading private equity players Kohlberg Kravis Roberts (KKR) and TPG have made the preliminary offer for Seagate.
On Thursday, NYSE-listed Seagate said it has 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," the company said in a statement.
"There is no assurance that the company will receive a formal offer or that any transaction will take place," it added.
Morgan Stanley and Perella Weinberg Partners LP would offer financial advice to Seagate.
A maker of hard disk drives and other storage solutions, Seagate raked in revenues of $11.4 billion for the year-ended July 2, 2010.