Storage vendor EMC has upped its acquisition offer for data deduplication specialist Data Domain.
The company said on Monday that it would raise its offer to roughly $2.1bn (£1.3bn), or $33.50 (£20.70) per share. If accepted, the deal could close within two weeks.
EMC's new offer is the latest volley in what has become a heated contest with rival storage firm NetApp, which has placed a stock and cash acquisition offer of roughly $30 (£18.50) per share.
In placing the new offer, EMC is hoping to end the bidding war once and for all.
"EMC emphasised that its all-cash offer is clearly superior to the $30 per share stock-and-cash proposal from NetApp," the company said in a statement.
"EMC has removed from its definitive agreement all deal protection provisions that could further impede the maximisation of stockholder value for Data Domain stockholders, and urged the Data Domain board to do the same."
Shortly after news of EMC's latest offer broke, NetApp issued a statement of its own, vowing not to admit defeat just yet.
"In response to EMC's revised, unsolicited offer, the NetApp board of directors will carefully weigh its options, keeping in mind its fiduciary duty to its stockholders and its disciplined acquisition strategy," said chairman and chief executive Dan Warmenhoven.
See also:
EMC extends bid for deduplication storage firm until 10 July 28 Jun 2009
Partner companies to benefit from new licensing options 02 Jun 2009
Elisa Steele to take over as chief marketing officer 23 Mar 2009All Storage Tags: Netapp, Emc, Data-domain, Ecommerce, Hardware, Software
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