Sun Rises in The Land of Oracle
On April 20, 2009, Sun and Oracle announced a definitive agreement under which Oracle will acquire Sun common stock for $9.50 per share in cash.
The transaction is valued at approximately $7.4 billion, or $5.6 billion net of Sun's cash and debt.
The proposed transaction is subject to Sun stockholder approval,certain regulatory approvals and customary closing conditions.
Until the deal closes, each company will continue to operate independently, and it is business as usual.
The acquisition combines best-in-class enterprise software and mission-critical computing systems.