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Oracle to Buy Sun for $7.4 Billion

12:28 PM MDT | April 20, 2009 | Esther D'Amico

Enterprise software developer Oracle (Redwood Shores, CA) says it has agreed to acquire hardware and server systems firm Sun Microsystems (Santa Clara, CA) for about $7.4 billion, or $9.50/share in cash. The transaction, valued at $5.6 billion excluding Sun’s cash and debt, has been unanimously approved by Sun’s board, Sun says. The deal is subject to regulatory approval and customary closing conditions and is expected to close this summer. The announcement comes on the heels of IBM’s abandoned attempt to acquire Sun. The deal gives Oracle entry...

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