Feeds

NetApp ups bid for Data Domain

Equals EMC's $30/share

Reducing the cost and complexity of web vulnerability management

NetApp has revised its bid for Data Domain, lifting its offer to $30/share in cash and stock.

Yesterday EMC trumped NetApp's original $1.5bn cash and stock bid with its own, unsolicited, $30/share, $1.8bn all-cash bid. NetApp values its bid at $1.9bn, net of Data Domain's cash.

The new bid is comprised of $16.45/share in cash, subject to potential adjustments, and $13.55/share in NetApp stock.

Dan Warmenhoven, NetApp's chairman and CEO, said: “Our strategic rationale remains the same and we firmly believe that the combination of our two companies will provide a greater opportunity and risk-adjusted value for Data Domain shareholders, customers, and partners. The complementary nature of the Data Domain and NetApp product lines will result in higher aggregate growth compared to the redundancies that would result with the EMC product line.”

NetApp emphasised the cultural fit between it and Data Domain, saying: "The cultural compatibility between Data Domain and NetApp will maximize the potential for continued innovation from a creative and motivated employee base. This will not only create a meaningful choice for our customers but also lead to a complementary combination with no obstacles to an expeditious close of the acquisition.”

EMC's bid and letter to Data Domain mentioned that its proposal was superior in value and certainty to NetApp's and also faced no impediments due to financial arrangements or due diligence, a claim NetApp is keen to deny. NetApp also believes there would also be no regulatory concerns with its bid, unlike the situation with an EMC bid.

The company says its offer for Data Domain is superior to EMC’s proposal, as it offers a combination of value certainty and the opportunity for Data Domain shareholders to participate in the future success of the combined NetApp and Data Domain entity. In other words the share component will open the doors to higher value in the future than taking EMC's all-cash bid now.

Reducing the cost and complexity of web vulnerability management

More from The Register

next story
Wanna keep your data for 1,000 YEARS? No? Hard luck, HDS wants you to anyway
Combine Blu-ray and M-DISC and you get this monster
US boffins demo 'twisted radio' mux
OAM takes wireless signals to 32 Gbps
Apple flops out 2FA for iCloud in bid to stop future nude selfie leaks
Millions of 4chan users howl with laughter as Cupertino slams stable door
No biggie: EMC's XtremIO firmware upgrade 'will wipe data'
But it'll have no impact and will be seamless, we're told
Students playing with impressive racks? Yes, it's cluster comp time
The most comprehensive coverage the world has ever seen. Ever
Run little spreadsheet, run! IBM's Watson is coming to gobble you up
Big Blue's big super's big appetite for big data in big clouds for big analytics
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.