Business News

EMC Completes Tender Offer for Data Domain

Thursday 23. July 2009 - Acquisition Expected To Close Today

EMC Corporation (NYSE:EMC), the world leader in information infrastructure solutions, today announced the successful completion of its tender offer for all outstanding shares of common stock of Data Domain, Inc. (NASDAQ:DDUP).

The tender offer expired at 12:00 midnight, Eastern Daylight Time (EDT), on July 22, 2009. Data Domain stockholders tendered a total of approximately 59,268,746 shares of Data Domain common stock in the offer, representing approximately 90.3% of the outstanding Data Domain shares. Together with the 3.9% of outstanding Data Domain shares previously held by EMC, EMC now controls approximately 94.2% of Data Domain shares outstanding. EMC has accepted for payment all shares tendered in the offer.

EMC expects to effect a second-step merger and complete its acquisition of Data Domain today. All remaining outstanding Data Domain shares, other than those held by Data Domain, EMC or their respective subsidiaries and stockholders who properly perfect appraisal rights under Delaware law, will be converted in the merger into the right to receive $33.50 per share in cash.

Following the merger, Data Domain common stock will cease to be traded on The NASDAQ Global Select Market.