HOPKINTON, Mass., June 17 /PRNewswire/ -- EMC Corporation today announced that it will voluntarily re-file its notification under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with its all-cash offer to acquire all of the outstanding common stock of Data Domain, Inc. for $30 per share in order to begin a new 15-day waiting period. Because EMC's offer to acquire all of the outstanding common stock of Data Domain was cleared to the Federal Trade Commission (FTC) for review only this past Monday, June 15, the company will take this procedural step of re-filing its notification in the immediate term to ensure that the FTC has adequate time to review the transaction.
Paul T. Dacier, EMC's Executive Vice President and General Counsel, said, "We continue to anticipate a routine review by the Federal Trade Commission of our offer to acquire Data Domain, and we believe we will receive regulatory approval in a timely manner. Our $30 per share all-cash offer to acquire Data Domain is not only superior, but it also delivers to Data Domain stockholders the price certainty and price protection its management team and board stated were important priorities when they negotiated the terms of their agreement with NetApp."
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EMC Corporation is the world's leading developer and provider of information infrastructure technology and solutions that enable organizations of all sizes to transform the way they compete and create value from their information. Information about EMC's products and services can be found at http://www.emc.com/.
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Forward-Looking Statements
This release contains "forward-looking statements" as defined under the Federal Securities Laws. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including but not limited to: (i) adverse changes in general economic or market conditions; (ii) delays or reductions in information technology spending; (iii) our ability to protect our proprietary technology; (iv) risks associated with managing the growth of our business, including risks associated with acquisitions and investments and the challenges and costs of integration, restructuring and achieving anticipated synergies; (v) fluctuations in VMware, Inc.'s operating results and risks associated with trading of VMware stock; (vi) competitive factors, including but not limited to pricing pressures and new product introductions; (vii) the relative and varying rates of product price and component cost declines and the volume and mixture of product and services revenues; (viii) component and product quality and availability; (ix) the transition to new products, the uncertainty of customer acceptance of new product offerings and rapid technological and market change; (x) insufficient, excess or obsolete inventory; (xi) war or acts of terrorism; (xii) the ability to attract and retain highly qualified employees; (xiii) fluctuating currency exchange rates; (xiv) litigation that we may be involved in; and (xv) other one-time events and other important factors disclosed previously and from time to time in EMC's filings with the U.S. Securities and Exchange Commission. These statements are forward-looking, and actual results may differ materially. EMC disclaims any obligation to update any forward-looking statements in this release after the date of this release.
This release is neither an offer to purchase nor a solicitation of an offer to sell shares of Data Domain, Inc. EMC Corporation and Envoy Merger Corporation have filed with the SEC a tender offer statement on Schedule TO containing an offer to purchase, forms of letters of transmittal and other documents relating to the tender offer, and these documents have been mailed to the stockholders of Data Domain, Inc. These documents contain important information about the tender offer and stockholders of Data Domain, Inc. are urged to read them. Investors and stockholders of Data Domain, Inc. are able to obtain a free copy of these documents and other documents filed by EMC Corporation and Envoy Merger Corporation with the SEC at the website maintained by the SEC at http://www.sec.gov/. In addition, the tender offer statement and related materials may be obtained for free by directing such requests to EMC Corporation at Attention: Office of the General Counsel, 176 South Street, Hopkinton, MA 01748.
EMC Corporation
CONTACT: Michael Gallant, +1-508-293-6357, Gallant_Michael@emc.com
Web Site: http://www.emc.com/
