EMC Extends Data Domain Offer

EMC Corporation has extended its all-cash tender offer to purchase all outstanding shares of Data Domain common stock for USD $30 per share.

The move is to provide additional time to satisfy closing conditions, the offering period now expires at 12:00 midnight EDT on July 10, 2009.

The initial offering period, which began on June 2, 2009, was previously scheduled to expire at 12:00 midnight EDT on June 29, 2009.

Data Domain is the object of a bidding war between EMC and NetApp.

It is unclear what EMC hopes to achieve by the extension, since Data Domain already rejected the offer on June 15 and said EMC's offer is not in the best interest of its shareholders.

It prefers a bid from NetApp.

In May, NetApp announced that it had agreed to buy Data Domain for USD $25 per share in cash and stock, or about USD $1.5 billion.