IBM cuts Sun Microsystem offer to under $9.50 a share

Jennifer McClelland | RSS | 2 Comments

IBM will likely be buying out Sun Microsystems soon. It recently offered the company $9.55 a share, but just cut the offer to $9.50 a share.

Even with the drop in the offer price, IBM is offering Sun a 91% premium on the stock price, which closed at $4.97 on March 17th (the day before talk started).

The deal would be IBM’s largest acquisition to date, and analysts say it will likely face intense antitrust scrutiny in the United States and Europe because it will give IBM a substantial lead in high-end business computers.

Some also say that Sun’s software assets will help IBM compete more efficiently as large technology companies like Cisco Systems Inc (CSCO.O) seek to offer customers a comprehensive set of products including computer hardware, and Web-based software.

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  1. 

    
    
        Sarah | Tue, Apr 07 2009
    


    Even with the drop in the offer price, IBM is offering Sun a 91% premium on the stock price, which closed????
    

    

    2. 

  2. 

    
    
        Chris McClelland | Tue, Apr 07 2009
    


    It’s for the name and for the assets. Guess they want to makes sure that the deal goes through.
    

    




    
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