EMC Commences Tender Offer for Iomega
It will expire on May 21, 2008.
This is a Press Release edited by StorageNewsletter.com on April 26, 2008 at 4:09 pmEMC Corporation and Iomega Corporation announced that EMC commenced a cash tender offer for all outstanding shares of the common stock of Iomega at a price of US$3.85 per share, net to the seller in cash. The cash tender is being made pursuant to the Offer to Purchase, dated April 24, 2008, and in connection with the Agreement and Plan of Merger, dated as of April 8, 2008, among EMC, Emerge Merger Corporation (a wholly owned subsidiary of EMC formed for the purpose of making the Offer) and Iomega, which EMC and Iomega publicly announced on April 8, 2008.
The tender offer will expire at 12:00 midnight, Eastern Daylight Time, on Wednesday, May 21, 2008, unless extended.
There is no financing condition to the tender offer, but the tender offer is subject to certain other conditions set forth in the Offer to Purchase, including, obtaining regulatory approvals from antitrust authorities in the U.S. and the European Commission. On April 22, 2008, the Federal Trade Commission granted us early termination of the waiting period under the Hart- Scott-Rodino Antitrust Improvements Act of 1976, as amended, with respect to the tender offer and merger.
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