Sun rises on talk of IBM deal. Good for Linux?

Posted by Scott_Ruecker on Mar 20, 2009 5:27 AM EDT
Tectonic; By Alastair Otter 		Mail this story
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Beleaguered Sun Microsystems, whose share price has been languishing at one of its lowest points ever for the past year, has just been given a shot in the arm with yesterday's talk of an IBM buyout. A couple of weeks ago I wrote about how Sun's share price gave the company a market capitalisation only slightly larger than that of Red Hat, despite revenues 20-fold more than those of Red Hat. At the close of the NYSE on March 17 Sun's share was trading at $4.92. With the overnight news of a potential IBM buyout that price rocketed to open at $8.31 yesterday, eventually closing at $8.94. Which gives Sun a market capitalization of more than $6.6 billion.

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