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1. By the look of your comment, it looks like NetApp should have paid the break-up fee to DataDomain for walking out of deal, rather than the other way around. I wonder what would have caused DataDomain to pay the fee.
2. Also I am curious to know why EMC's stock price was not negatively affected by this news, as they also seem to be overpaying for this acquisition. [ less... ]
2. Also I am curious to know why EMC's stock price was not negatively affected by this news, as they also seem to be overpaying for this acquisition. [ less... ]
1. By the look of your comment, it looks like NetApp should have paid the break-up fee to DataDomain for walking out of deal, rather than the other way around. I wonder what would have caused DataDomain to pay the fee.
2. Also I am curious to know why EMC's stock price was not negatively affected by this news, as they also seem to be overpaying for this acquisition.
You are right. The 2nd paragraph of the news release suggests that Data Domain actually preferred being acquired by the higher bidder EMC and hence asked NetApp to withdraw. <br><br>See attached 2nd para verbatim from the reuters news release: <br>"Data Domain, which previously resisted EMC's overtures, said it severed an agreement to sell itself to NetApp for $1.9 billion and paid a $57 million breakup fee."