IBM, Sun Deal Friday?
How badly does Sun (JAVA) want its acquisition deal with IBM to go through? So badly that it’s willing to lower its purchase price for assurances that Big Blue will finish the deal. People familiar with the matter tell The Wall Street Journal that Sun has agreed to lower its takeover price to between $9 and $10 per share from $10 to $11 on the condition that IBM (IBM) commits to acquiring it regardless of a government antitrust review.
Talks between the two companies continue. And, according to DealBook, which pegs the price at $9.50 a share, a deal could be announced as soon as Friday. If it is, it will likely prove the largest in IBM’s history, surpassing its $5 billion acquisition of software maker Cognos in November 2007.
