The big economic boom via merger this year would have been the deal between server company Sun Microsystems and IBM. But now, the deal has been broken. It appears that IBM underbid the company seeking as low as $9.40 per share. The company, even though in trouble, said that bid was just too low. IBM said Hey! we’re giving you 11 percent more than what you’re trading for on the open exchange, what do you want for nothing? (loosely translated)
But now it appears that the talks are going to break down indefinitely which means we will see yet another round of layoffs from the creator of Java programming language. Reportedly the company employs nearly 6,000 and they stand to lose half its workforce.
Read the Bloomberg report here.