NEW YORK (AP) — Data storage company EMC boosted its offer to buy Data Domain to $33.50 per share in cash and says it received regulatory approval for the purchase.
EMC’s new offer, announced Monday, is $3.50 per share above its previous offer valuing Data Domain Inc. at $2.1 billion.
The Hopkinton, Mass. company also says the Federal Trade Commission granted early clearance for the deal.
Santa Clara, Calif.-based Data Domain has rebuffed bids from EMC, and agreed to be purchased by NetApp Inc.
EMC Corp.’s latest bid comes on the same day NetApp says it received clearance from the Securities and Exchange Commission to buy Data Domain for $30 per share, or $1.9 billion, in a cash-and-stock deal. The company also has cleared FTC hurdles.
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