{"id":7676,"date":"2009-04-20T08:10:11","date_gmt":"2009-04-20T12:10:11","guid":{"rendered":"tag:www.legitreviews.com:\/\/e3195a1ca1411ba6ff80de1a92a4d71e"},"modified":"2009-04-20T08:10:11","modified_gmt":"2009-04-20T12:10:11","slug":"oracle-to-buy-sun-microsystems-for-74-billion","status":"publish","type":"post","link":"https:\/\/computerhunter.us\/?p=7676","title":{"rendered":"Oracle to buy Sun Microsystems for $7.4 billion"},"content":{"rendered":"

Information technology company Oracle is buying Sun Microsystems in a cash deal the company valued at $7.4 billion. The deal comes after IBM abandoned its bid to buy the networking equipment maker.<\/p>\n

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Redwood Shores-based Oracle will buy Sun shares for $9.50 each. The price represents a 42 percent premium to Sun's Friday closing stock price of $6.69. Net of Sun's cash and debt, the transaction is valued at $5.6 billion, Oracle says. IBM had offered to buy Sun for $9.40 per share, but acquisition talks fell apart earlier this month after Sun canceled IBM's exclusive negotiating rights, and IBM withdrew its offer. <\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Information technology company Oracle is buying Sun Microsystems in a cash deal the company valued at $7.4 billion. The deal comes after IBM abandoned its bid to buy the networking equipment maker.<\/p>\n

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Redwood Shores-based Oracle will buy Sun shares for $9.50 each. The price represents a 42 percent premium to Sun's Friday closing stock price of $6.69. Net of Sun's cash and debt, the transaction is valued at $5.6 billion, Oracle says. IBM had offered to buy Sun for $9.40 per share, but acquisition talks fell apart earlier this month after Sun canceled IBM's exclusive negotiating rights, and IBM withdrew its offer. <\/p>\n<\/blockquote>\n

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