EMC, Quantum and Data Domain
What does EMC want to do?
IT1999: Oracle has given the world a surprise, now it’s EMC ? Maybe it’s a good choice to buy NetApp, not Data Domain. IBM wanted to buy SUN, why EMC doesn’t want to buy NetApp?
It’s market capacity of those IT companies from google finance.
EMC 13.54 +0.03 (0.22%) 27.26B
DDUP 33.21 +0.08 (0.24%) 2.09B
NTAP 19.78 +0.38 (1.96%) 6.64B
QTM 0.835 +0.045 (5.70%) 175.52M
CSCO 18.99 +0.08 (0.42%) 109.53B
DDUP is about 31.5% of NTAP, so, why not NetApp? EMC always buys cheaper one, is it true?
Let’s think about it, EMC has NetApp and Quantum. Heheeeeeeeeeeeeee….. The US government should not NOT allow this happening.
EMC is NOT Oracle, so we just read the following news for pleasure.
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EMC extends offer to buy Data Domain for $30 per share
On Friday June 26, 2009, 5:11 pm EDT
http://finance.yahoo.com/news/EMC-Extends-Cash-Tender-Offer-prnews-3556015102.html?x=0&.v=1
HOPKINTON, Mass. (AP) — Data storage company EMC Corp. said Friday that it extended its offer to buy Data Domain Inc. for $30 per share in an all-cash deal.
The offering now expires at midnight on July 10. Previously, EMC’s offer, which had begun on June 2, was to expire at midnight on Monday.
EMC had said last week that it would refile notice of its offer to buy the data backup and disaster recovery systems provider to ensure federal authorities have time to review it.
Data Domain said June 15 that EMC’s offer is not in the best interest of its shareholders and that it prefers a bid from data storage provider NetApp Inc.
NetApp and Data Domain had said in early June that they reached a deal for Data Domain to be bought for $1.9 billion in cash and stock. NetApp originally offered $1.5 billion, or $25 per share in cash and stock, on May 20, before EMC produced a higher offer of $30 per share.
NetApp later matched EMC’s offer, and Data Domain agreed to NetApp’s new offer.
EMC said about 174,645 common shares of Data Domain — or less than half of a percent of all outstanding common shares — had been tendered by Friday afternoon.
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http://phx.corporate-ir.net/staging/phoenix.zhtml?c=69905&p=irol-newsArticle&ID=1270551&highlight=
Quantum Secures $100 Million Financing Commitment From EMC to Enable Refinance of Quantum’s Convertible Debt
Will Give Quantum Greater Financial Flexibility and Help Ensure Continued, High Level of Investment in Deduplication Innovation
SAN JOSE, CA, Mar 27, 2009 (MARKET WIRE via COMTEX) — Quantum Corp. (NYSE: QTM), the leading global specialist in backup, recovery and archive, today announced that it has secured a $100 million financing commitment from EMC Corp.(1) (NYSE: EMC) that Quantum will use to refinance its convertible debt (see separate release issued today, titled “Quantum Commences Tender Offer for its 4.375% Convertible Subordinated Notes Due 2010″). By doing so, Quantum will address a key challenge posed by its current capital structure and the very constrained credit environment: the obligation to refinance a majority of its convertible debt by February 2010. EMC, which licenses Quantum’s deduplication software for use in some of its industry-leading networked storage products, made the $100 million financing commitment to help ensure that Quantum can continue to invest in the technology enhancements required by EMC to meet the needs of their customers in this fast-growing sector.