Sun and Southeastern Asset Management Appoint New Members to Sun's Board
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Sun Microsystems, Inc. and value investment firm, Southeastern Asset Management, Inc., today announced that they have entered into an agreement to add two new independent members to Sun's Board of Directors. Southeastern is Sun's largest shareholder and currently holds approximately 162 million shares, or 22 percent, of Sun's common stock. Under the terms of the agreement, Sun will add two new independent directors to its Board. The appointments, to be approved by both companies, will occur as soon as reasonably practicable.
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