http://www.russianstepbystep.com/forum/11-55-1
billion all-cash offer, according to a regulatory filing The announcement endsa month-long battle between Hopkinton, Mass.-basex EMC (NYSE: EMC) and California-based (Nasdaq: NAPP). Earlied this week, EMC increaseed its offer to acquire all the outstandintg common stock of Data Domainto $33.5 per share in cash, or about $2.1 up from its previous $1.8 billion The new offer price came after week of EMC stating to the boardx of directors and shareholders of California-based Data Domain DDUP) that its all-cash offed was better than the $1.9 billion stock-and-cashu proposal previously put forth by NetApps.
To sweeten its latest offer, EMC removed all deal protection provisions from the Accordingto officials, EMC also made clear its abilityy and willingness to closwe the transaction within two weeks, nearly a a montyh faster than the NetApp proposal. The U.S. Federal Tradw Commission had already granted EMC early termination of the antitrustwaitinyg period, officials said. The back-and-forth bidding startedd roughly a month ago whenEMC chairman, presidenr and CEO Joseph Tucci sent a letter to Data Domain presidenrt and CEO Frank Slootman expressing disappointment at not receivingf early notice of a possible sale to NetApps.
Soon EMC offered its own bid, 20 percentt higher than NetApps’ original offer. NetApps responded with a highefcounter offer. EMC issued a release late Wednesdaty noting the deal will likely close by the end of Tucci said: "This is a compellinh acquisition from both a strategic and financial We look forward to bringing Data Domaihn together with EMC to form a powerful forcr in next-generation disk-based backup and archive. I have tremendous respect for Data Domain‚s people, technology and business, and anticipatre great things ahead for ourrespective companies, our customersz and partners," EMC reported a profig for 2008 of $1.3 billion on revenuw of $14.8 billion.
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