EMC Extends Tender Offer to Acquire Iomega Corporation
02 Juni 2008 - 3:30PM
PR Newswire (US)
HOPKINTON, Mass., June 2 /PRNewswire/ -- EMC Corporation
(NYSE:EMC), the world leader in information infrastructure
solutions, today announced that it has extended the expiration date
for its cash tender offer for all outstanding shares of common
stock of Iomega Corporation (NYSE:IOM) until 5:00 p.m. Eastern
Daylight Time (EDT) on Friday, June 6, 2008. As a result,
stockholders of Iomega may tender their shares of Iomega common
stock until 5:00 p.m. EDT on Friday, June 6, 2008. The extension
was made to allow the European Commission the time required to
complete its review process, which is a condition to the completion
of the tender offer. As previously announced, EMC, through Emerge
Merger Corporation (a wholly owned subsidiary of EMC formed for the
purpose of making the offer), commenced a cash tender offer on
April 24, 2008 for all of the outstanding shares of common stock of
Iomega at a price of $3.85 per share in cash, without interest,
pursuant to an Agreement and Plan of Merger among EMC, Emerge
Merger Corporation and Iomega. As of 5:00 p.m. EDT on May 30, 2008,
a total of 44,984,469 shares of common stock of Iomega had been
validly tendered and not withdrawn, representing approximately 82
percent of the outstanding shares of common stock of Iomega.
Additional Information and Where to Find It This press release is
not an offer to purchase, a solicitation of an offer to purchase or
a solicitation of an offer to sell any of the Shares. The
solicitation and the offer to buy shares of Iomega common stock is
being made pursuant to the Offer to Purchase and related materials
that EMC and Emerge Merger Corporation filed with the U.S.
Securities and Exchange Commission (the "SEC") on April 24, 2008.
EMC and Emerge Merger Corporation filed a Tender Offer Statement on
Schedule TO containing an Offer to Purchase, forms of letters of
transmittal and other documents relating to the tender offer, and
Iomega filed a Solicitation/Recommendation Statement on Schedule
14D-9 with respect to the tender offer. EMC, Emerge Merger
Corporation and Iomega mailed these documents to the stockholders
of Iomega. These documents contain important information about the
tender offer and stockholders of Iomega are urged to read them
carefully. Investors and stockholders of Iomega are able to obtain
a free copy of these and other documents filed by Iomega or EMC
with the SEC at the website maintained by the SEC at
http://www.sec.gov/. In addition, the Offer to Purchase and related
materials may be obtained for free by directing such requests to
EMC Corporation at 176 South Street, Attention: Office of the
General Counsel, Hopkinton, MA 01748. Investors and stockholders
may obtain a free copy of the Solicitation/Recommendation Statement
on Schedule 14D-9 and such other documents from Iomega by directing
requests to Iomega at 10955 Vista Sorrento Parkway, Attention:
Corporate Secretary and General Counsel, San Diego, CA 92103. For
additional information, please contact the information agent for
the offer. The Information Agent for the offer is: MORROW &
CO., LLC 470 West Avenue Stamford, CT 06902 (203) 658-9400 Banks
and Brokerage Firms Call: (800) 662-5200 Stockholders Call Toll
Free: (800) 607-0088 E-mail: About EMC EMC Corporation (NYSE:EMC)
is the world's leading developer and provider of information
infrastructure technology and solutions that enable organizations
of all sizes to transform the way they compete and create value
from their information. Information about EMC's products and
services can be found at http://www.emc.com/. EMC is a registered
trademark of EMC Corporation. Iomega is a registered trademark of
Iomega Corporation. All other trademarks are the property of their
respective owners. This release contains "forward-looking
statements" as defined under the federal securities laws. These
include, without limitation, all references to the date the offer
will be completed. Actual results could differ materially from
those projected in the forward-looking statements as a result of
certain risk factors, including but not limited to: (i) any adverse
governmental reactions as we seek approvals for the acquisition of
Iomega, or business partner reactions to the acquisition; (ii)
material adverse changes in general economic or market conditions;
(iii) the potential for Iomega's employees to leave their positions
as a result of the acquisition; (iv) changes in the business of EMC
or Iomega; or (v) other one-time events and other important factors
disclosed previously and from time to time in EMC and Iomega's
filings with the SEC. EMC disclaims any obligation to update any
such forward-looking statements after the date of this release.
DATASOURCE: EMC Corporation CONTACT: Dave Farmer of EMC
Corporation, +1-508-293-7206, Web site: http://www.emc.com/
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