EMC extends tender offer to purchase all of Iomega's outstanding shares

By Devika Patel

Knoxville, Tenn., May 22 - EMC Corp. said in a company press release it has extended the expiration date for its cash tender offer for all outstanding shares of common stock of Iomega Corp. until 5 p.m. ET on May 30. The previous expiration was midnight ET on May 21.

The extension was made to allow the European Commission enough time to complete its review process, which is a condition to the completion of the offer.

As previously announced, EMC, through subsidiary Emerge Merger Corp., began a cash tender offer on April 24 for all of Iomega's outstanding common shares at $3.85 per share, in cash without interest.

EMC, located in Hopkinton, Mass., develops and supports information infrastructure technology and solutions.

Iomega, based in San Diego, provides storage and network security solutions for businesses and consumers.

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