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IBM withdraws offer to buy Sun

The article did not say that the offer is withdrawn at this time. It simply said that an impasse appears to have developed that could still be worked out.
 
That's not gonna be good for business...

...that's not gonna be good for anyone :Q
 
Man, I made some good $ on that when their stock nearly trippled. I sold Sun around $8 or so (up from the $3 range). I bet it plunges back to the $3 range again tomorrow.

I bet Sun is going to buy up it's own shares and go private sometime this year.
 
I admire companies that will do things like this and simply walkaway if a deal is out of hand.

To many companies acquire other companies and get bigger. Thus makign the CEOs paycheck that much bigger. But hte shareholder gets screwed.
 
Only a complete moron would think a company like Sun Microsystems is worth $9+/share.
Hewlett Packard isn't dumb enough to make that mistake.
 
Originally posted by: IHateMyJob2004
I admire companies that will do things like this and simply walkaway if a deal is out of hand.

To many companies acquire other companies and get bigger. Thus makign the CEOs paycheck that much bigger. But hte shareholder gets screwed.
Click to expand...

This is the biggest fallacy with tech companies. They often acquire large unprofitable competing companies in exchange for large amounts of stock which dilutes shareholder value.
 
Originally posted by: Lothar
Only a complete moron would think a company like Sun Microsystems is worth $9+/share.
Hewlett Packard isn't dumb enough to make that mistake.
Click to expand...

Well..they did buy Compaq...
 
Originally posted by: TruePaige
Originally posted by: Lothar
Only a complete moron would think a company like Sun Microsystems is worth $9+/share.
Hewlett Packard isn't dumb enough to make that mistake.
Click to expand...

Well..they did buy Compaq...
Click to expand...

Yeah, but that was before Mark Hurd became CEO and Chairman of the board.
 
Kind of good to see. I don't like seeing a big open source company getting bought out as it could mean the doom of lot of their products that are free and open source. Though from what I had read, IBM planned to keep it open source but it was not very detailed.
 
Originally posted by: Lothar
Only a complete moron would think a company like Sun Microsystems is worth $9+/share.
Hewlett Packard isn't dumb enough to make that mistake.
Click to expand...

😕 They were trading in the $12-16 range last year, then the economy took a dump. They also had some internal management issues that took it's toll.
 
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