EMC May Raise DDUP Bid
Hopkinton, MA-based EMC (NYSE: EMC) is prepared to raise its bid for Santa Clara, CA-based Data Domain (NASDAQ: DDUP) from $30 per share to as much as $35 in order to outbid rival NetApp (NASDAQ: NTAP), Reuters reported on Friday, citing unnamed sources. The board of Data Domain, whose software is used to reduce storage requirements by eliminating redundant data, has already accepted NetApp’s $30 per share offer (sweetened from $25 after EMC’s surprise bid), but has said it will review EMC’s $30 counteroffer. It’s expected to issue a recommendation to shareholders tomorrow. A higher offer could force NetApp to respond, or could put pressure on board members to accept EMC’s bid.