IBM in talks to buy Sun Micro
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Stephan
Mar 18, 2009, 4:40:57 AM3/18/09
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(Reuters) – International Business Machines is in talks to acquire Sun
Microsystems, the Wall Street Journal said, citing people familiar
with the matter.
IBM is likely to pay at least $6.5 billion in cash to acquire Sun, the
people told the paper.
That would translate into a premium of about 100 percent over Sun's
closing price Tuesday of $4.97 a share on the Nasdaq, the paper said.
In recent months, Sun has approached a number of large tech companies
in the hopes of being acquired, the paper said.
Hewlett-Packard Co declined the offer, the paper said.
Sun is a maker of software and high-end computers.
A spokesman for IBM declined to comment to the paper on questions
about any talks with Sun.
IBM and Sun could not be immediately be reached for comment by
Reuters.
(Reporting by S. John Tilak in Bangalore; Editing by David Cowell)
Microsystems, the Wall Street Journal said, citing people familiar
with the matter.
IBM is likely to pay at least $6.5 billion in cash to acquire Sun, the
people told the paper.
That would translate into a premium of about 100 percent over Sun's
closing price Tuesday of $4.97 a share on the Nasdaq, the paper said.
In recent months, Sun has approached a number of large tech companies
in the hopes of being acquired, the paper said.
Hewlett-Packard Co declined the offer, the paper said.
Sun is a maker of software and high-end computers.
A spokesman for IBM declined to comment to the paper on questions
about any talks with Sun.
IBM and Sun could not be immediately be reached for comment by
Reuters.
(Reporting by S. John Tilak in Bangalore; Editing by David Cowell)
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