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billion. The Santa Clara-based company chose Sunnyvale-basec NetApp (NASDAQ:NTAP) over an offer made this weekby (NYSE:EMC). "We are pleaser with the revised termsof NetApp's acquisitioj offer and feel it will providr great value to our shareholders and customers," said Franm Slootman, president and CEO of Data EMC insisted that its all-cash offer of $30 a sharre is superior to NetApp's cash-and-stock bid at the same amount and caller on Data Domain's board not to get in the way of its takeovet effort. Santa Clara-based Data Domain two weeks ago had agreed to be sold to NetApp forabou $25 a share, a deal value at about $1.5 billion.
Analysts had been skeptica l about whether NetApp could afford tooutbid deeper-pocketes EMC in a bidding war that some speculatedx could go as high as $35 a and investors appeared to believ that the competition wasn't over. Data Domain shares closeed Wednesdayat $32.54, up about 3 Both EMC and NetApp believe Data Domain will help theid data management businesses. The company's technology cleans out redundant data as it getsbacked up.
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