The Wall Street Journal is reporting that IBM is in talks to buy Sun Microsystems for a 100% premium to Sun's closing price. Recall in my 12 Predictions for 2009, I predicted that Google would look to buy Sun. I was right about Sun being bought but wrong on the acquirer. I wonder if Google puts in a competitive bid!
From The Wall Street Journal:
International Business Machines is in talks to buy Sun Microsystems in a combination that would bolster IBM's heft on the Internet, in data storage and in government and telecommunications areas, according to people familiar with the matter.
It is unclear whether the negotiations will result in a transaction, but if the deal does go through, IBM is likely to pay at least $6.5 billion in cash to acquire Sun, the people said. That would translate into a premium of about 100% over Sun's closing share price Tuesday.
Wednesday, March 18, 2009
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