Rochester, NY 8/13/2009 8:18:31 PM
Sun Microsystems Inc., JAVA - Oracle Willing to Increase Bids to Buy Microsystems
Sun Microsystems Inc.
Oracle recently decided to increase offers and is now willing to buy Sun Microsystems for over $7 billion. Reports also states that the talks between the company and IBM has already fallen apart. That gives major rise to Oracle’s hopes of buying the IT giant, which produces the widely accepted programming language Java. Oracle has announced that it will pay $9.50 per share.
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There were also reports that Sun Microsystems has already refused the IBM offer of $9.40 per share. It’s not known whether Sun Microsystems will respond positively to Oracle’s offer or not. However, the deal will give a boost to Oracle’s position against the IBM, as both are considered as bitter rivals.
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