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IBM not interested in Sun at any price:

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zigzagman   Thursday, 04/16/09 10:51:54 AM
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IBM not interested in Sun at any price:

AP-NEW YORK (Reuters) – IBM is no longer interested in buying smaller rival Sun Microsystems Inc at any price, due to concerns that such a deal would draw intense regulatory scrutiny, CNBC reported on Thursday.

Citing sources close to Sun, CNBC said the high-end computer maker had approached International Business Machines Corp earlier this week to ask it to return to the negotiating table, indicating that Sun would be flexible about price.
But IBM has decided it is not interested in any further negotiations with Sun, the cable news network reported, citing sources close to IBM.

IBM's contacts within the U.S. Justice Department, U.S. Securities and Exchange Commission and the European Union have all advised the company that such a merger could be subject to an antitrust review lasting six to nine months, CNBC said.

Sun declined to comment. IBM was not immediately available for comment. IBM had withdrawn a $7 billion offer for Sun earlier this month, after the smaller company rejected the bid as too low, sources with knowledge of the matter have said.

Shares of Sun erased pre-market gains of about 7 percent to trade at $6.18, up less than 1 percent from their previous close on the Nasdaq. IBM shares were up 1.45 percent at $100.28 on the New York Stock Exchange.

(Reporting by Ritsuko Ando, writing by Tiffany Wu; Editing by Derek Caney)


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