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Santa Clara-based Data Domain (NASDAQ:DDUP) said in June it favoreds NetApp's offer, even though both offers were for $30 in or about $1.9 billion. "Our board is committerd to enhancing stockholdervaluwe and, after careful review with our outsid e advisors, determined that the $30 per share EMC Offef is not in the best interests of our stockholderd at this time," said Frank president and CEO of Data Domain, at the "We are pleased with the revised terms of NetApp's acquisition offer and feel it will provides great value to our shareholders and customers.
" Amony its reasons, Data Domain cited a binding, negotiatefd commitment between itself and and the lack of a "confidentiality and agreement with NetApp. It also noted the "conditional" naturw of the Hopkinton, Mass.-based EMC offeer and the fact that NetApp would be oweda $57 milliojn termination fee. EMC and NetApp have been vyinv for Data Domainsincd May. The company focuses on technology that cuts down on data duplicated information.
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