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 IBM Corp. and Sun Microsystems Inc. were going over final details of a deal that would have seen IBM pay about $7 billion to acquire Sun. But IBM pulled the offer this weekend and Sun terminated IBM's status as its exclusive negotiating partner. That has thrown the acquisition talks into doubt.
IBM was discussing a price of more than $9 per share for Sun. But as investors reacted to the breakdown in talks, they sent Sun shares down $2.31, or 27.2 percent, to $6.18 in premarket trading Monday.
It is unclear whether Sun is still trying to find an alternative suitor to IBM.
[Associated
Press]
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