Takeover Talks Between IBM and Sun Microsystems Collapse

IBM’s (NYSE: IBM) plans to acquire Sun Microsystems (NASDAQ: JAVA) in a $7 billion deal have collapsed, sending stock prices for the computer hardware maker tumbling.

Investors reacted quickly to the news as Sun shares fell 22% during morning trading while IBM dropped 2% Monday morning.

After more than a month of talks it appeared that the deal between IBM and Sun Microsystems was on solid ground after a $9.50 per share offer from IBM. While there has been no official word on what caused the talks to collapse many reports have suggested that price had become an issue.

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