IBM Sun Micro Deal Falls Through - Yahoo Snafu
Near the close of March, talks between International Business Machines (IBM) and Sun Microsystems (JAVA) heated up with the former looking to buy the latter for around $7 billion. But talks broke down in the late stages after Sun Chairman Scott McNealy leading a charge to strike the deal down.
Most had assumed any potential deal for Sun a foregone conclusion given the tech icon's precarious financial position. Sun was valued at $200 billion at the peak of the dot.com bubble, but has been fighting a losing battle with its shareholders ever since. During 2008 alone, Sun shares dropped nearly 80%.
After the IBM deal fell through, Oracle (ORCL) stepped in and on April 20th announced its intent to purchase Sun for $7.4 billion.
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