Sun Shares Jump on I.B.M. Takeover Report

Sun Microsystems soared in European trading after a report that it was in talks to be acquired by I.B.M.. Stock markets, meanwhile, were mixed in Asia and Europe.

Shares of Sun, which makes the Java software that runs many Internet applications, rose $2.28, or 61 percent, to $6 in Frankfurt morning trading. I.B.M. shares traded in Germany fell 1 percent.

The Wall Street Journal, quoting “people familiar with the matter,” reported Wednesday that International Business Machines was in talks to buy Sun for at least $6.5 billion in cash, a premium of more than 100 percent over the company’s closing share price Tuesday. Officials of Sun and IBM could not immediately be reached for comment.

Read Full Article from New York Times

- Posted: 2009-03-18 08:17:51

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