EMC PLANS TO BUY IOMEGA FOR USD205MN
AsiaInfo Services, March, 2008
AsiaInfo Services 03-20-2008 EMC Plans to Buy Iomega for USD205mn HONG KONG, Mar 20, 2008 (SinoCast via COMTEX) -- EMC Corp. (NYSE: EMC), the world's leading provider of data storage systems, revised its offer for Iomega Corp. (NYSE: IOM), a global leader in data protection and security. EMC plans to acquire 54.8 million Iomega shares for USD 205.5 million, or USD 3.75 apiece.
Iomega said that it would consider the offer for the revised price was higher than previously USD 178 million. However, it acknowledged that the price was not so pretty as the bid proposed by Great Wall Technology Co., Ltd. (SEHK: 0074), a China-based IT company. Iomega announced in December 2007 that it planned to acquire the tradable shares of ExcelStor Great Wall Technology Ltd. and...
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