John Paczkowski

Recent Posts by John Paczkowski

So Much for NetApp's Data Domain Acquisition

ddup

Data Domain shareholders are celebrating today. After market close Monday, EMC (EMC) made a $1.8 billion bid for the backup and disaster data recovery systems company, trumping the $1.5 billion NetApp (NTAP) offered for it in late May.

The bid values Data Domain (DDUP) at $30 a share–a 20 percent premium over NetApp’s rival proposal which itself represented nearly a 40 percent premium over Data Domain’s closing stock price of $17.91 on the day the bid was announced. Obviously, great news for anyone with Data Domain in their portfolio.

During a conference call, EMC CEO Joe Tucci called the company’s all-cash proposal “superior” to NetApp’s offer and “a win-win” for both companies. “We didn’t just wake up one day and say maybe this is a good thing to do,” he said. “We have had our eye on Data Domain and obviously somebody moved before we did.”

And while that somebody might have signed a binding agreement with Data Domain, it hasn’t yet won shareholder approval. Nor is it likely to. What investors in their right mind would argue for $25 per share in cash and stock over $30 in cash, especially when the latter really requires no due diligence?

Incidentally, shares in Data Domain are up more than 18 percent at $31.21 this morning.

Twitter’s Tanking

December 30, 2013 at 6:49 am PT

2013 Was a Good Year for Chromebooks

December 29, 2013 at 2:12 pm PT

BlackBerry Pulls Latest Twitter for BB10 Update

December 29, 2013 at 5:58 am PT

Apple CEO Tim Cook Made $4.25 Million This Year

December 28, 2013 at 12:05 pm PT

Latest Video

View all videos »

Search »

Another gadget you don’t really need. Will not work once you get it home. New model out in 4 weeks. Battery life is too short to be of any use.

— From the fact sheet for a fake product entitled Useless Plasticbox 1.2 (an actual empty plastic box) placed in L.A.-area Best Buy stores by an artist called Plastic Jesus