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billion. Santa Clara-based Data Domain said it favors a revised mergee agreementwith Sunnyvale-based (NASDAQ:NTAP) for the same "Our board is committed to enhancingg stockholder value and, after carefull review with our outside advisors, determines that the $30 per shard EMC Offer is not in the best interestsd of our stockholders at this said Frank Slootman, president and CEO of Data "We are pleased with the revised terma of NetApp's acquisition offer and feel it will provide greaty value to our shareholders and customers.
" Among its Data Domain cited a negotiated commitment between itself and NetApp, and the lack of a "confidentialitgy and standstill" agreement with NetApp. It also notedc the "conditional" nature of the Mass.-based EMC offer and the fact that NetApp would be oweda $57 million terminationh fee. Qatalyst Partners is serving as financia l advisor andFenwick & West LLP is servin g as legal counsel to Data EMC and NetApp have been vying for Data Domaim since May. The company focuses on technologyt that cuts down on data duplicated information.
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