Source: bloomberg.com
Oracle Corp. agreed to buy Sun Microsystems Inc. for about $7.4 billion in cash, swooping in after the server maker’s talks to be acquired by International Business Machines Corp. failed.
Oracle will pay $9.50 a share, 42 percent more than Sun’s closing price on April 17. Oracle plans to make Sun a profitable part of its business and said the purchase will add $1.5 billion to operating earnings, excluding some items, in the first year.
Tuesday, April 21, 2009
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