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Santa Clara-based Data Domainb (NASDAQ:DDUP) said in June it favorede NetApp's offer, even though both offers were for $30 in or about $1.9 "Our board is committed to enhancing stockholdervalue and, aftefr careful review with our outside determined that the $30 per shared EMC Offer is not in the best interestzs of our stockholders at this time," said Frank Slootman, presidengt and CEO of Data Domain, at the "We are pleased with the revised terms of NetApp's acquisitionn offer and feel it will provide great valure to our shareholders and customers.
" Among its reasons, Data Domain cited a binding, negotiated commitmenft between itself and NetApp, and the lack of a "confidentialityt and standstill" agreement with NetApp. It also notesd the "conditional" nature of the Mass.-based EMC offer and the fact that NetAppl would be oweda $57 milliomn termination fee. EMC and NetApp have been vyinf for Data Domainsince May. The compant focuses on technology that cuts down on data duplicated information.
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