Iomega spurns EMC’s hostile acquisition bid
The board of directors at Iomega this week rejected EMC’s bid to acquire the company, preferring instead to go ahead with its deal to buy Excelstor Great Wall Technology, a Cayman Islands company, and Shenzhen Excelstor Technology Ltd., a Chinese company, in a stock deal. The latter deal is expected to close in mid-2008.
Full story »Related Posts
- Users are better off with an independent Iomega I am not sure who the bigger winner is after this week's announcement that Iomega rejected EMC's takeover bid: Iomega or customers. Based on EMC's past attempts to enter the consumer storage market space, one would think that consumers are better...
- GFI Buys Local BI and ERP Integrator French IT services vendor GFI Informatique is back on the acquisition trail, two months after spurning a hostile takeover bid from Fujitsu Services.
- EMC to buy Iomega EMC reached a deal to buy data-storage firm Iomega for $US213 million in cash, scuttling a deal Iomega previously made with a group of Chinese companies.
- Oracle offers BEA US$6.7 billion; A hostile takeover? Oracle is bidding to take over BEA Systems, the No. 3 middleware supplier, for US$6.7 billion. The announcement made public Friday has some of the earmarks of a hostile takeover, like Oracle's ultimately successful but protracted bid to take over...