IBM Trying to Buy Sun Micro

(NEWSER) - Oracle Corp. has agreed to buy Sun Microsystems, swooping in after Sun’s talks with IBM fell apart. Oracle will pay $7.4 billion, or $9.50 a share for Sun, the Wall Street Journal reports, a 42% premium on Friday’s close. Though Sun has been losing money, Oracle expects the deal to tack $1.5 billion onto its profits in the first year, and called Sun’s Java platform “the most important software” it’s ever acquired. More»

(NEWSER) - IBM withdrew a $7 billion offer to buy Sun Microsystems this weekend after Sun's board called the bid too low, the Wall Street Journal reports. Sun also worried that IBM sought too much leeway to walk away from the deal if antitrust regulators challenged the merger, insiders say. People expected Sun to fetch around $11 per share, but as the company demanded an ironclad deal, IBM's offer sank to $9.40 per share. More»

Oracle and Sun Microsystems may be only tip of the iceberg

(NEWSER) - Recent acquisitions by Sun Microsystems and Oracle could be the opening round of new Silicon Valley deal-making, the Wall Street Journal reports, as tech companies worried about a US economic slowdown seek to strengthen their positions. Smaller companies struggling to stay afloat are tempting targets; bigger fish also want to invest in building web-based software and services—a still-growing sector. More»

Chief exec was expected to step down after signals from Oracle CEO

(NEWSER) - Sun Microsystems CEO Jonathan Schwartz is going out in geeky style with a tweeted haiku resignation. Schwartz has been in the crosshairs publicly since the CEO of Oracle, which just acquired Sun, said last week that he expected Schwartz to step down, Mashable reports. “Today’s my last day at Sun. I’ll miss it,” he tweeted, before launching into his poetic offering. More»

(NEWSER) - Stocks turned south this morning, as a series of downgrades and bad news for the Sun/IBM deal spooked investors ahead of earnings season, the Wall Street Journal reports. The Dow dropped 92, the S&P 12. Financials sank after a veteran analyst downgraded 11 major US banks. The Nasdaq fell 33, after a downgrade from Cisco and a report that the Sun takeover deal was in jeopardy. More»