The bidding war that has broken out over data storage company Data Domain has put Frank Quattrone, once Silicon Valley’s most prominent banker, back at the centre of one of the tech industry’s most controversial financial battles.

The deal has raised questions about how effectively Data Domain, advised by Mr Quattrone’s Qatalyst Partners, has handled the process, in particular its acceptance of an initial, relatively low, offer and its advice to shareholders this week to reject one of the nearly matching bids on the table.