Iomega warming to revised EMC takeover bid
by Darren Murph 
posted Mar 18th 2008 at 8:40AM
Just a week ago, Iomega turned up its nose at an offer from EMC to buyout the firm for $3.25 per share. Now, however, it's singing a somewhat different tune as EMC has struck back with an entirely more succulent offer of $3.75 per share. Said bid puts a $205.5 million value on Iomega -- based on the 54.8 million shares it has outstanding -- and now it's being reported that "Iomega will enter into discussions with EMC that could lead to a definitive acquisition proposal." Go on you two, don't hold back on those feelings any longer.
Filed under: Peripherals, Storage
Reader Comments (Page 1 of 1)
webon @ Mar 18th 2008 8:51AM
show meeee the moneyyyy!!!
Matt @ Mar 18th 2008 9:00AM
Ooh boy, another acquisition for EMC!
zargon @ Mar 18th 2008 9:04AM
EMC is sure buying up companies left and right. They just recently bought Infra, who we use for our issue tracking system. We also use them for our SAN solution.
Meine Ecke @ Mar 19th 2008 8:13AM
show me the money :)))
RobJ @ Mar 18th 2008 9:19AM
I'm surprised that Iomega is still even in business, much less that someone wants to buy the company.
Wil @ Mar 18th 2008 9:44AM
Without being rude, I wouldn't touch a Iomega drive after the problems I had with one years ago.
However with that said, I thought Iomega would be worth a lot more money than that.
ET @ Mar 18th 2008 10:26AM
Iomega = Bear Stearns. So sad.
John @ Mar 18th 2008 10:54AM
Wow, Iomega passed up an earlier offer? I haven't seen anyone buy an Iomega product for the best part of a decade.
MattyD @ Mar 19th 2008 12:35AM
When Iomega reps were reached for comment they said "Click click click".
Octothorpe @ Mar 21st 2008 9:27PM
Living in the land of Iomega HQ, I'm surprised that anyone would want them. They are a dead company, their R&D department effectively closed a while back and there are literally less than a shell of their former "click, click, click" . . .