Welcome!

Java Authors: Maureen O'Gara, Jonny Defh, Suresh Krishna Madhuvarsu, RealWire News Distribution, Brandon Watson

Related Topics: Oracle, SOA & WOA

Oracle: Article

Oracle-Sun: Transaction Uncertainty Is What Led Sun to Oracle Over IBM

Wall Street Journal looks at Sun's latest proxy filing with the Securities and Exchange Commission
By Oracle News Desk
Article Rating:
May 13, 2009 08:00 AM EDT
Reads:
 2,493

According to the Wall Street Journal this morning, Oracle - rather than IBM - acquired Sun because of "transaction uncertainty" among Sun's board of directors - mainly caused by Big Blue lowering its bid price from $10 to $9.40 per share, and specifying that the deal was contingent on other items and conditions.

Reporter Dan Gallagher notes that while IBM isn't mentioned in the filing by name, Sun's references to "Party A" and "Party B" can only refer to IBM and Oracle, the two companies involved in the dramatic first few weeks of April.

As we all now know, Oracle delivered an offer to buy Sun at $9.50 per share on April 17, slightly higher than IBM's downwardly adjusted offer. Sun's board approved the Oracle just bid two days later, on April 19. And that was the end of any transaction uncertainty, once and for all.

Published May 13, 2009 – Reads 2,493
Copyright © 2009 SYS-CON Media, Inc. — All Rights Reserved.
Syndicated stories and blog feeds, all rights reserved by the author.

More Stories By Oracle News Desk

Oracle News Desk trawls the world's news information sources and brings you timely updates on Oracle and its ever-expanding enterprise software portfolio, including its entire range of tools for managing business data, supporting business operations, and facilitating collaboration and application development.

Comments (0)

Share your thoughts on this story.

Add your comment
You must be signed in to add a comment. Sign-in | Register

In accordance with our Comment Policy, we encourage comments that are on topic, relevant and to-the-point. We will remove comments that include profanity, personal attacks, racial slurs, threats of violence, or other inappropriate material that violates our Terms and Conditions, and will block users who make repeated violations. We ask all readers to expect diversity of opinion and to treat one another with dignity and respect.