Thu, Jul 9th, 2009
Shares of NetApp Inc. edged higher Thursday after the company abandoned its bid to buy Data Domain Inc., a move one analyst called "prudent."
Data Domain, whose technology helps companies cut the amount of data that gets stored multiple times, agreed to EMC Corp.'s cash buyout offer of $2.1 billion, or $33.50 per share, on Wednesday.
Data Domain in early June agreed to be bought by NetApp for $30 per share in cash and stock. Data Domain paid NetApp a $57 million breakup fee so it could accept EMC's offer.
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Related stories from Digg:
NetApp may be target after failed Data Domain bid
NetApp Inc may itself become an acquisition target after rival EMC Corp foiled its effort to buy Data Domain Inc, a niche player in the $20 billion-a-year data storage equipment market.Technology gi(Software)
ounewslettersSat, Jul 11th, 20091 Diggs, 0 CommentsWSJ.com - EMC Raises Bid For Data Domain 11% To $2.2B
EMC Corp. (EMC), having now received regulatory approval to move forward with a deal, raised its takeover bid for Data Domain Inc. (DDUP) by 11% to $2.2 billion, as it battles NetApp Inc. (NTAP) for control of the maker of data-storage products.(Tech Industry News)u2daveMon, Jul 6th, 20092 Diggs, 0 Comments
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