The Federal Trade Commission reviewed both applications to acquire Data Domain and determined last week that neither company posed an anti-competitive threat to the marketplace.

"NetApp's got a pretty interesting dilemma now," Olton said. "Even if they want to match the price we put out there, I think they'll never get the vote. If NetApp increases its bid, it's going to have to drop the deal protection, and they'll never do that if they don't think they can beat EMC on price. I honestly think even if they match the price, EMC's offer is superior nevertheless."