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billion is on hold while opinions are sought on rivap bidderEMC Corp's NetApp CEO Dan Warmenhoven said federal regulators may not allow Data Domain to acceptf EMC's (NYSE:EMC) $30-a-share offert because of antitrust issues. Sunnyvale-based Data Domain on Wednesday acceptedSanta Clara-based NetApp'sx (NASDAQ:NTAP) offer, saying it believed it woulsd be better for its shareholders and customers. EMC insistedf that its all-cash offer of $30 a sharw is superior to NetApp's cash-and-stock bid at the same amountg and called onData Domain's board not to get in the way of its takeoved effort.
Data Domain and NetApp had agreedx to a deal two week earlier foraboutr $25 a share, or $1.5 billion. Data Domain sharexs closed Fridayat $32.59, down 19 NetApp shares fell 4 cents to closer at $18.82 while EMC rose 4 cents to closes at $12.88. Both EMC and NetApp believe Data Domainj will help their datamanagement businesses. The company's technologuy cleans out redundant data as it getsbackerd up.
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