Datadomain Board advises shareholders to refuse to sell shares to EMC

Source: Internet
Author: User
Keywords Shareholder Emc emc netapp
NETAPP (US NASDAQ Stock Code: NTAP) recently responded to a statement issued by data domain, stating that data domain's board of Directors has advised shareholders to reject EMC (US NASDAQ Stock Code: EMC) to acquire all existing Data domain generic  The stock proposal, instead of selling the shares to EMC, voted for NetApp. "We are delighted that Data Domain advises shareholders to continue to support NetApp's takeover proposals and against EMC's outdated proposals," said Dan Warmenhoven, chairman and chief executive of NetApp Inc. Ho Haowen. This statement reaffirms our belief that NETAPP's recommendations provide an attractive short-term and long-term value to Data Domain shareholders, without fear of antitrust issues, and that the way to complete the transaction is clearer and more timely.  We look forward to continuing our proposal, giving it to the shareholders for a vote and beginning to implement the commitments made to achieve this remarkable combination. "Importantly, we believe that the combination of NetApp and Data Domain can be of great benefit to both customers and employees." After the merger, customers can benefit from smaller business disruption risks, continued competitiveness, enhanced products and services, NETAPP sales and marketing organizations to help the Data Doman products in the United States and Europe, Asian enterprise market promotion. In addition, we believe that with complementary products and more resources, employees can benefit from cultural compatibility, productivity and innovation. NETAPP on May 20, 2009 first announced an agreement to acquire Data Domain and announced changes to the acquisition agreement on June 3, 2009.
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