(By Philip Carnelley Wed 8 July 2009 7:15am) News yesterday that EMC has come back with a higher all cash offer of $2.1bn ($33.50 per share) for data de-duplication software specialist Data Domain. That’s 12% higher than the previous cash-and-shares offer from NetApp, which DDI had “accepted”. (For the history of this saga see DDI still prefers NetApp). NetApp’s original bid was $1.5bn, so DDI shareholders should be pretty happy. The twist is that DDI has made it known that it would prefer to be part of NetApp, but analyst opinion is that NetApp can’t afford to bid much more. DDI stock rose to over $34 in response to EMC’s offer, but has fallen back to $33.95. It looks like the end game is in sight and, most often, the guy with the deepest pockets wins.
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