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IBM Drops Price for Sun: Journal

Most industry observers are amazed that IBM is willing to pay even that much for Sun

The Wall Street Journal, flourishing its unidentified sources, said Thursday afternoon that the price IBM is willing to pay for Sun had drop from between $10 and $11 a share to between $9 and $10 and that Sun is willing to accept the cut - yeah, like it wouldn't - provided IBM gives it a stronger commitment to completing the deal despite what may be long and intense antitrust scrutiny.

The paper said "Sun's board wants to limit IBM's ability to exit the deal." The deal could face regulator strings.



Most industry observers are amazed that IBM is willing to pay even that much for Sun. Six dollars would seem more appropriate to them.

The Journal Monday defended its March 19 "IBM To Buy Sun" scoop after the market started doubting the story in the absence of any confirmation. It said the companies were still talking, admitted that the leak "came relatively early in the process," and said "IBM has said that the process of studying Sun's financial statements and operations, known as due diligence, would take a while," suggesting that the original leak came from IBM, not Sun, which would be more likely to tell the New York Times anyway.

The Journal says the companies are negotiating the exact terms of IBM's promises and that nobody knows when they might strike a deal. Other press outlets have already said the talks could go into next week.

The Times, by the way, coming late to the party puts the prices at about $9.50, down from close to $10, and claims the deal could be announced Friday. 

More Stories By Maureen O'Gara

Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

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