IBM In Talks To Buy Sun Micro: Report
IBM is likely to pay at least $6.5 billion in cash to acquire Sun, related people told the Wall Street Journal.
International Business Machines is in talks to acquire Sun Microsystems, the Wall Street Journal said, citing people familiar with the matter.
IBM is likely to pay at least $6.5 billion in cash to acquire Sun, the people told the paper.
That would translate into a premium of about 100 percent over Sun's closing price Tuesday of $4.97 a share on the Nasdaq, the paper said.
In recent months, Sun has approached a number of large tech companies in the hopes of being acquired, the paper said.
Hewlett-Packard declined the offer, the paper said.
Sun is a maker of software and high-end computers.
A spokesman for IBM declined to comment to the paper on questions about any talks with Sun.
More from BiztechIBM and Sun could not be immediately reached for comment by Reuters.
(Reporting by S John Tilak in Bangalore; editing by David Cowell/ Reuters)
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