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Oracle Steps in and Picks Up Sun

Oracle Steps in and Picks Up Sun

Monday Apr 20th 2009 by Alex Goldman

Database company talks strategic value of the buy; predicts "substantially higher margins" from troubled Sun.

Oracle and Sun Microsystems are poised to tie the knot after Oracle this morning said it's making a $9.50 per share offer in cash for the embattled server and Java player.

The total price of the deal will be approximately $7.4 billion, but since Sun brings $1.8 billion of net cash to the deal, the net cost to Oracle could be as low as $5.6 billion.

The news comes almost exactly a month after IBM reportedly made its own offer for Sun, in a deal from which Sun ultimately walked away. The Wall Journal reported that Sun officials felt that IBM's offer of $9.40 per share had been too low.

On a conference call announcing the deal this morning, Oracle president Safra Catz was bullish on the deal, saying that it would provide a greater per-share contribution than Oracle's acquisitions of BEA, PeopleSoft and Siebel combined.

Read more on Oracle's plans at InternetNews.com.

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