Sorry if this was already posted.
Monday September 13, 3:24 pm Eastern Time
Company Press Release
Update: Status of EMC Acquisition of Data General
HOPKINTON, Mass. and WESTBOROUGH, Mass.--(BUSINESS WIRE)--Sept. 13, 1999--EMC Corporation and Data
General Corporation today announced an update on the status of the acquisition of Data General by EMC (announced August 9, 1999). EMC has filed a
Registration Statement in connection with the acquisition, which was declared effective by the United States Securities and Exchange Commission (SEC) on
September 7, 1999, thereby completing the SEC review process. Data General has filed definitive proxy materials with the United States SEC and a special meeting
of Data General stockholders to vote on the acquisition has been scheduled for October 7, 1999. The companies also have received a request for additional
information from the United States Department of Justice in connection with the Department's requisite antitrust review of the proposed acquisition. Data General
stockholder approval and termination or expiration of applicable waiting periods under antitrust laws are conditions of EMC's and Data General's obligations to
complete the acquisition. EMC and Data General continue to expect the acquisition to be completed in 1999.
Data General Corporation, based in Westborough, Massachusetts, is a major supplier of storage and enterprise computing solutions for customers worldwide. In
addition to CLARiiON Fibre Channel storage systems, Data General's products include high-end NT and UNIX-based AViiON® servers, and related software
and services. Data General reported fiscal 1998 revenues of $1.5 billion. Additional information on Data General, its products, and services is available on the
Internet at www.dg.com. More information on CLARiiON technology and products can be accessed on the Internet at www.clariion.com.
EMC Corporation, based in Hopkinton, Massachusetts, is the world's technology and market leader in the rapidly growing market for intelligent enterprise storage
systems, software, networks and services. EMC's products store, retrieve, manage, protect and share information from all major computing environments, including
UNIX, Windows NT and mainframe platforms. EMC has offices worldwide, trades on the New York Stock Exchange under the symbol EMC, and is a component
of the S&P 500 Index. For further information about EMC and its storage solutions, EMC's corporate web site can be accessed at emc.com.
This release contains ''forward-looking statements'' as defined under the Federal Securities Laws. 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) the operational integration associated with acquisitions; (ii) delays in the
development, production or acceptance of either company's products; (iii) the transition to new products; (iv) competitive factors, including but not limited to pricing
pressures, in the computer storage market; (v) the relative and varying rates of product price and component cost declines; (vi) other risks associated with
acquisitions; and (vii) other one-time events and other important factors disclosed previously and from time to time in EMC's filings with the U.S. Securities and
Exchange Commission. |
