Tuesday, September 14, 2010

Data Domain's position once again tend to NetApp

Exclusive translation銆?銆怶atchStor Data Domain, said yesterday that the relative EMC's all-cash acquisition proposal, they still tend to NetApp's cash equities mixed mode, while Data Domain in the two weeks before the show was over that position.

NetApp EMC and Data Domain are presented to 30 U.S. dollars per share (the total transaction amount, 19 billion) bid.

Data Domain data deduplication technology, a professional company, this technology can remove redundant data to help users save a lot of storage hardware costs.

Data Domain, said, NetApp's offer is a "strong commitment to the negotiations", if the EMC Data Domain did not refuse the offer, then it will remove these transactions may NetApp. Data Domain also said they can not negotiate with EMC to offer, as EMC has not yet passed and negotiations relating to confidentiality and other agreements.

Data Domain also pointed out that if they agreed to the acquisition of EMC, NetApp will be needed to pay 57 million U.S. dollars to the suspension of payments.

EMC CEO Joe Tucci said in a statement, EMC believe that their proposal is more generous than NetApp. Tucci said: "We believe EMC 30 U.S. dollars per share all cash offer proposal for Data Domain to ensure price stability, price protection and fast end of the acquisition. EMC's all-cash acquisition proposal meets all the stated objectives Data Domain. We do not think Data Domain shareholders will deal with NetApp. EMC will continue to adhere to the successful completion of this transaction. "

NetApp CEO Dan Warmenhoven said in a statement, Data Domain announced the news "again strengthened our confidence: NetApp Data Domain shareholder proposal to provide attractive short-term and long-term value, while shareholders do not need to worry about Data Domain anti-trust issues, and clearer and more timely manner to complete the acquisition. We will continue our proposal, submitted to the shareholders vote and begin to fulfill a strong joint commitment to this. "

Warmenhoven also noted between NetApp and Data Domain's "cultural compatibility" - which many analysts believe that Data Domain is also in talks clear preference for one of the reasons NetApp.

Stifel Nicolaus analyst Aaron Rakers that, EMC is likely to increase the purchase price of Data Domain. He also quoted a Reuters report: EMC shareholders may vote on the transaction with NetApp moment before raising auction.

And just yesterday, the U.S. Federal Trade Commission the same time they have started two companies bid on the anti-monopoly review. NetApp said, EMC's bid is likely to face antitrust obstacles, many analysts have mentioned before on this issue.

Bernstein Litowitz Berger & Grossmann LLP and Grant & Eisenhofer PA law firm of two lawyers announced that they have on behalf of shareholders to Data Domain and NetApp launched a lawsuit, claiming Data Domain shareholders, "refused to negotiate with the EMC behavior contrary to shareholders their trust, "" In the absence of any measures taken to increase the maximum extent, where the price agreed to Data Domain to sell to NetApp ".

Data Domain spokesman refused to comment on the lawsuit.


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