IBM withdraws offer to buy Sun

[Flammable]

Text


I fully expected this deal to go down...guess not

Updated Article

 

[Newbian]

I hear they went with the moon since it's a bit cheaper then the sun.

 

[her209]

Oh snap!

 

[Barfo]

Originally posted by: Newbian
I hear they went with the moon since it's a bit cheaper then the sun.

And they say my jokes are bad

 

[evident]

sell sell sell

 

[wwswimming]

Originally posted by: Newbian
I hear they went with the moon since it's a bit cheaper then the sun.

attempted humor is better than none.

 

[KeithP]

Is Jerry Yang on Sun's board?

-KeithP

 

[FelixDeCat]

The article did not say that the offer is withdrawn at this time.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.

 

[Flammable]

Originally posted by: FelixDeKat
The article did not say that the offer is withdrawn at this time.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.

updated article

 

[Kaido]

That's not gonna be good for business...

...that's not gonna be good for anyone :Q

 

[Gunslinger08]

I guess Sun's stock will plummet tomorrow.

 

[NFS4]

Originally posted by: joshsquall
I guess Sun's stock will plummet tomorrow.

:music: Don't let the Sun go down on me :music:

 

[Fritzo]

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.

 

[BoomerD]

I heard on the news the other day that SGI's assets were sold for $25 million...

I don't know if that included the remnants of Cray or not.

http://www.pcmag.com/article2/0,2817,2344253,00.asp

 

[mugs]

Originally posted by: Kaido
That's not gonna be good for business...

...that's not gonna be good for anyone :Q

:laugh:

 

[Chaotic42]

Originally posted by: Kaido
That's not gonna be good for business...

...that's not gonna be good for anyone :Q

+5000 points for you, sir.

 

[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.

 

[imported_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.

 

[JMapleton]

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.

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.

 

[TruePaige]

Wow...I expected this to go through.

 

[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.

Well..they did buy Compaq...

 

[imported_Lothar]

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.

Well..they did buy Compaq...

Yeah, but that was before Mark Hurd became CEO and Chairman of the board.

 

[Red Squirrel]

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.

 

[Fenixgoon]

Originally posted by: Chaotic42

Originally posted by: Kaido
That's not gonna be good for business...

...that's not gonna be good for anyone :Q

+5000 points for you, sir.

i'd give him over 9000

 

[Fritzo]

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.

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.