Early termination of HSR waiting period granted in merger of EMC, Iomega

By Lisa Kerner

Charlotte, N.C., April 23 - The Federal Trade Commission granted early termination of the Hart-Scott-Rodino waiting period in the proposed merger of EMC Corp. and Iomega Corp., the government announced on Wednesday.

As previously reported, EMC agreed to acquire Iomega for $3.85 per share in a deal valued at some $213 million.

EMC said that once the acquisition is complete, Iomega will serve as the core of EMC's new consumer/small business products division led by Jonathan Huberman.

In March, EMC acquired Document Sciences Corp. for $85.5 million, or $14.75 per share.

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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