Sanford Bernstein & Co.

Who's Your M&A Consultant, Sun? Jerry Yang?

John Paczkowski in News on April 6, 2009 at 7:22 am PT

What’s Sun going to do now? Shares in the company dropped more than 27 percent percent to $6.48 in premarket trading following reports that Sun’s board rejected a formal acquisition offer by IBM. After weeks of negotiations, the two companies were thought to be finalizing a deal for about $7 billion. But IBM lowered its offer over the weekend and then withdrew it after Sun balked at the price and terms of the sale.

Who’s Your M&A Consultant, Sun? Jerry Yang?

John Paczkowski in News on April 6, 2009 at 7:22 am PT

What’s Sun going to do now? Shares in the company dropped more than 27 percent percent to $6.48 in premarket trading following reports that Sun’s board rejected a formal acquisition offer by IBM. After weeks of negotiations, the two companies were thought to be finalizing a deal for about $7 billion. But IBM lowered its offer over the weekend and then withdrew it after Sun balked at the price and terms of the sale.