Linked by Thom Holwerda on Fri 8th May 2009 22:10 UTC
Oracle and SUN Sun Microsystems shareholders have filed three separate class action lawsuits to block a $7.4 billion acquisition by Oracle, the company revealed in a 10-Q filing with the Securities and Exchange Commission. The lawsuits allege Sun's board didn't live up to its fiduciary responsibilities to shareholders when it accepted Oracle's acquisition offer, saying "the consideration offered in the proposed transaction is unfair and inadequate."
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Thought This Might be Coming
by segedunum on Sat 9th May 2009 00:21 UTC
segedunum
Member since:
2005-07-06

It's not a done deal yet, which is why Larry is talking softly. The execs think they have got the cushy number they wanted but the shareholders and investors are not satisfied. However, either something happens or Sun cannot continue as it is.

Edited 2009-05-09 00:23 UTC

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