Saturday, May 18, 2024

IBM-Sun Negotiations Appear Unsuccessful

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IBM and Sun Microsystems broke off acquisition talks after Sun indicated it was unhappy with IBM’s offer of $9.40 or below per share, a source with knowledge of the matter said on Sunday.
The source, who was not authorized to speak publicly about the matter, said it was unclear if talks between the two companies would resume.

An IBM (NYSE: IBM) spokesman declined to comment, while Sun (NASDAQ: JAVA) officials were not immediately available for comment.

Sources told Reuters in March that IBM was in talks to buy Sun. Sun’s shares closed up 28 cents at $8.49 on Friday.

Copyright 2009 Reuters. Click for restrictions.

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