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billion. Santa Clara-based Data Domai (NASDAQ:DDUP) said it favors a revised mergefr agreementwith Sunnyvale-based (NASDAQ:NTAP) for the same "Our board is committed to enhancingb stockholder value and, after careful review with our outside determined that the $30 per share EMC Offerf is not in the best interests of our stockholderw at this time," said Frank Slootman, presidengt and CEO of Data Domain. "We are pleasesd with the revised termsof NetApp's acquisitioh offer and feel it will provid e great value to our shareholders and customers.
" Among its reasons, Data Domaijn cited a binding, negotiated commitment between itself and and the lack of a "confidentiality and standstill" agreement with NetApp. It also noted the "conditional" naturwe of the Hopkinton, Mass.-based EMC offerr and the fact that NetApp wouldr be oweda $57 million termination fee. Qatalyst Partners is serving as financiakl advisor and Fenwick West LLP is serving as legal counsel to Data EMC and NetApp have been vying for Data Domaibnsince May. The company focuses on technology that cuts down ondata centers' duplicated information.
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