As Sun's world turns (worse): The latest Posted by Larry Dignan @ 11:15 am April 8, 2009
In the just keeping you updated department, the board of Sun Microsystems is scheduled to meet Wednesday over the IBM bid—err lack of one. Meanwhile, a large Sun shareholder dumped its stake.
Bloomberg reports Sun’s board is meeting to discuss the collapse of the IBM offer. It’s a bit unclear what Sun’s board is discussing given IBM has walked away for now and may not come back.
More interesting is the fact that a big Sun shareholder—Relational Investors—sold its 4.7 percent stake in the company. Ralph Whitworth, founder of Relational, disclosed the sale in a Bloomberg interview.