EMC Corp (EMC) Raises Offer For Data Domain (DDUP) to $33.50/Share
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EMC Corporation (NYSE: EMC) increased its offer to acquire all the outstanding common stock of Data Domain, Inc. (Nasdaq: DDUP) to $33.50 per share in cash, for a total enterprise value of approximately $2.1 billion, net of Data Domain's cash. EMC's past offer was $30 per share.
In submitting its revised proposal to Data Domain's Board of Directors, EMC emphasized that its all-cash offer is clearly superior to the $30 per share stock-and-cash proposal from NetApp (Nasdaq: NTAP).
Sepertaly, NetApp announced that the SEC declared NetApp's Registration Statement for its proposed acquisition of Data Domain effective allowing the transaction to proceed to a stockholder vote.
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