Reuters alone in reporting EMC planning to raise its bid for Data Domain

Shares of Data Domain jumped 3.4 percent to $34.35 on June 12 after Reuters broke the news that EMC Corp was planning to raise its bid for the company as part of a bidding war with rival NetApp Inc, and could offer as much as $35 a share for the specialty storage company. The exclusive Reuters story, which cited sources familiar with the matter, said the plan was part of EMC’s strategy to win Data Domain, and if not, at least make it a more expensive deal for NetApp by driving up the price. In the options market, Data Domain call volumes were more than double the norm, having already risen the previous day on a Reuters Dealtalk column that indicated EMC could raise its bid to offset regulatory concerns.