Exhibit D-11 to the tender offer documents (Exclusivity Letter) show SNDK was negotiating to buy the Lsi assets that Seagate purchased. That was the alternative transaction refered to in negotiation history toward the end of the main document.
Parties A,C,D and F signed standstill agreements preventing them from acquiring shares of FIO,but Sndk's Offer removed that restriction on June 16,allowing them to accumulate if they chose to do so. B's standstill agreement did not have a standstill provision which allowed it to buy shares upon Sndk's offer,but now that the No Shop provision in the SNDK-FIO confidentiality agreement has expired FIO is free to waive it which would have allowed Party B to accumulate after June 20. I think party A is either Dell or IBM . Party F is either Ntap or HPQ.