Make Homepage | Add To Favorites | Print Page | Submit News | Feedback | Contact | 

Your Technical Computer Information Resource!  
Keep free by purchasing something from our sponsors.
Make a financial contribution
  Technical Updates @ TACKtech Corp.  

03.10.2008 - Iomega Corporation Receives Unsolicited Acquisition Proposal And Determines That It Is Not A Superior Proposal

View Iomega related news. SAN DIEGO, March 10, 2008 - Iomega Corporation (NYSE: IOM) announced today the receipt of an unsolicited non-binding indication of interest from EMC Corporation (NYSE: EMC), in which EMC indicated that it is prepared to offer to acquire the outstanding common stock of Iomega for $3.25 per share, assuming a total of approximately 54.8 million outstanding shares. Iomega's board of directors met on March 9, 2008, and unanimously determined that the proposal from EMC would not reasonably constitute a superior proposal within the meaning of the share purchase agreement between Iomega, ExcelStor Great Wall Technology Limited, a Cayman Islands company, and Shenzhen ExcelStor Technology Limited, a PRC company, from Great Wall Technology Company Limited, a People's Republic of China company, ExcelStor Group Limited, a Cayman Islands company, and ExcelStor Holdings Limited, a British Virgin Islands company (the "Selling Stockholders"). The Board reached its conclusion based upon valuation and the Board's view that the proposed due diligence contingencies were overly broad.

- View Press Release
- Visit Iomega Corporation

NID: 21383 / Submitted by: TACKtech Team
Categories: Press Release
Most recent Iomega related news.
Iomega Introduces New Mac Companion Hard Drive With First of its Kind High Powered Charging Port For Your iPad and Other Apple Devices
Dr. Martens Gives Tape Backups the Boot for Disk-Based Data Protection With Iomega's Reliable, Portable, Easy-to-Use StorCenter ix4-200d NAS Server
Iomega Announces WIRED Magazine’s “Editor’s Pick” of the Iomega Home Media Network Hard Drive Cloud Edition
Virtual Desktop Infrastructure (VDI) Boot Storm Surprises Audience with New Standard for Low Cost Per Seat
Iomega Partners with Axis Communications to Connect the Cloud with RAID-Protected Storage for Hosted Video Surveillance in the SMB Market
View archive of Iomega related news.

Visit the TACKtech Shop
  Popular Tech News  
  Most Viewed News  
  Top Affiliates