| By Salvatore Genovese |
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| June 4, 2009 10:00 AM EDT |
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The Board of Directors of Data Domain (NASDAQ:DDUP) commented on the unsolicited offer it has received from EMC Corporation (NYSE:EMC) to acquire all of the outstanding shares of Data Domain common stock for $30.00 per share in cash.
Consistent with its fiduciary duties and in consultation with its financial and legal advisors, Data Domain’s Board is reviewing EMC’s offer. At this time, the Board is not making a recommendation with respect to the EMC offer.
Data Domain requests that its stockholders defer making a determination whether to accept or reject EMC’s offer until Data Domain has communicated to stockholders its position regarding the tender offer from EMC.
In accordance with Rule 14d-9 of the Securities Exchange Act of 1934, on or before June 16, 2009, Data Domain will communicate to stockholders its position regarding the tender offer from EMC. At this time, the Board is reaffirming the recommendation in favor of Data Domain’s merger with NetApp, Inc. (NASDAQ:NTAP) that is described in the Registration Statement on Form S-4 that NetApp has filed with the Securities Exchange Commission.
Qatalyst Partners is serving as financial advisor and Fenwick & West LLP is serving as legal counsel to Data Domain.
Salvatore Genovese is a Cloud Computing consultant and an i-technology blogger based in Rome, Italy. He occasionally blogs about SOA, start-ups, mergers and acquisitions, open source and bleeding-edge technologies, companies, and personalities. Sal can be reached at hamilton(at)sys-con.com.
