http://www.cbcenterprise.com/resources/videos/viewvideo/2/default/discipleship-2008
billion. Instead, Data Domain says it favorss a revised merger agreement with for thesame price. "Outr board is committed to enhancing stockholdervaluse and, after careful review with our outside determined that the $30 per share EMC Offer is not in the best interestas of our stockholders at this time," said Franl Slootman, president and CEO of Santa Calif.-based Data Domain (Nasdaq:DDUP). "We are pleased with the revised termsof NetApp'xs acquisition offer and feel it will provide great value to our shareholders and customers.
" Among its reasons, Data Domaij cited a binding, negotiated commitmen t between itself and NetApp, and the lack of a "confidentialitgy and standstill" agreement with NetApp. DataDomain also notexd the "conditional" nature of the Hopkinton, Mass.-based EMC offer and the fact that Sunnyvale, Calif.-based NetAppp would be owed a $57 million termination fee. is serving as financial advisor and is servingf as legal counsel to Data EMC (NYSE:EMC) and NetAppo (Nasdaq:NTAP) have been vying for Data Domain since May. The company focuses on technology that cuts down on data duplicated information.
NetApp employs abouft 700 people in ResearchTriangle Park, wherwe the company recently in a move to improvde its balance sheet. The compan announced in February that it woulf of its work fact ina cost-cuttiny move. EMC also has about 700 workers inthe Raleigh-Durhanm area. The company said in Januarhy thatit .
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