EMC gives Data Domain more time to mull over offer


EMC has extended its offer for Data Domain in a further attempt to outdo rival bidder NetApp.

The cash offer made by EMC in early June was due to expire tonight but it has extended the offer until midnight on 10 July.

In a statement released today Joe Tucci, EMC's chief executive, said: "EMC's $30 (18) per share all-cash offer remains superior to NetApp's stock and cash offer and, very importantly, delivers to Data Domain stockholders the price certainty and price protection its management team and board stated as important priorities during their negotiations with NetApp."

"We look forward to the execution of the definitive agreement and closing of the transaction with EMC."

NetApp made an initial deal with Data Domain for 1.5 billion in a mixture of cash and stocks in May this year but EMC upped the offer to 1.8 billion in cash two weeks later.

This led to a bidding war with NetApp raising its offer once again and EMC holding firm that its proposal was superior.

Data Domain released a statement earlier this month confirming it was considering EMC's offer but it has not made any comment on this extension.

IT PRO also contacted NetApp but it declined to comment.

Jennifer Scott

Jennifer Scott is a former freelance journalist and currently political reporter for Sky News. She has a varied writing history, having started her career at Dennis Publishing, working in various roles across its business technology titles, including ITPro. Jennifer has specialised in a number of areas over the years and has produced a wealth of content for ITPro, focusing largely on data storage, networking, cloud computing, and telecommunications.

Most recently Jennifer has turned her skills to the political sphere and broadcast journalism, where she has worked for the BBC as a political reporter, before moving to Sky News.