Data Domain Dallies with EMC
Wade Roush6/5/09
On Wednesday the board of Santa Clara, CA-based data deduplication company Data Domain (NASDAQ: DDUP) voted to accept NetApp’s (NASDAQ: NTAP) sweetened $1.9 billion acquisition offer, which had come in response to a $1.8 billion offer earlier this week from Hopkinton, MA-based EMC (NYSE: EMC). But yesterday Data Domain said its board is “reviewing EMC’s offer” and that stockholders should wait for its analysis before they accept or reject EMC’s $30/share tender offer for all outstanding Data Domain shares, which remains in effect. Observers quoted by the Boston Globe today say that as long as the EMC offer is in play, it could prolong a bidding war that drives up the Data Domain’s stock value.
Wade Roush is Xconomy's chief correspondent and editor of Xconomy San Francisco. You can e-mail him at wroush@xconomy.com or follow him on Twitter at twitter.com/wroush.
