Linked by Thom Holwerda on Fri 8th May 2009 22:10 UTC
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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Member since:
2005-07-06
From someone who had no idea at all that IBM was doing due diligence on Sun with respect to a takeover and refused to believe it, even when it had been specifically pointed out in an article for discussion, I find that funny.
elsewhere has done a good job of pointing out the reality of the situation. Costs are too high and they're losing too much money for their cash pile and assets to mean anything.