Oracle to Buy Sun Microsystems
As reported by Reuters, Oracle are to buy Sun Microsystems for $9.50 a share. See below for a quote from the article:
Â “NEW YORK (Reuters) – Oracle (ORCL.O) said on Monday will buy Sun Microsystems (JAVA.O) for $9.50 a share, valuing the high-end computer server maker at more than $7 billion (4.8 billion pounds).
The surprise announcement from the two companies comes after deal talks between IBM (IBM.N) and Sun fell apart earlier this month, and sources with knowledge of the matter had said Sun had turned down IBM’s offer to pay up to $9.40 a share.”
Read the full article here.