Shares of Sun Microsystems soared Wednesday after a published report said International Business Machines Corp. is in preliminary talks to buy Sun for at least $6.5 billion in cash.
The Wall Street Journal, which cited unnamed people familiar with the matter, said the deal could occur as early as this week. It also said the talks could fall apart.
IBM, of Armonk, N.Y., and Sun Microsystems of Santa Clara, Calif., both make computer systems for corporate customers, and the newspaper said a purchase of Sun would help IBM in the finance and telecommunications markets.
Wednesday, March 18, 2009
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