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EMC Offers $1.8B to Buy Data Domain
HOPKINTON, Mass. -- Data storage company EMC(EMC Quote) is offering $1.8 billion, or $30 a share, for Data Domain(DDUP Quote), one-upping a rival bid for the backup system provider from rival NetApp(NTAP Quote).
EMC's all-cash offer represents a 20% premium over the $25 a share cash and stock bid made by NetApp on May 20.
EMC said a deal would help broaden its range of storage products and grow revenue and profits. ...
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