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billion in cash. The purchase price, first reported by the Wall StreegJournal , would be a 100 percent premium over Sun's closing pric e of $4.97 a share Tuesday. Sun shares opened tradinvg on Tuesday up more than 68 percentat $8.36. IBM was down almostt 4 percentat $89.46. Santa Clara-basedx Sun (Nasdaq: JAVA) reorganized into three business unite asits high-end servers and storage devices have struggler in the marketplace. It laid off more than 6,000 employees last fall aftere reporting anearly $500 million The deal would be the largesgt acquisition in IBM IBM) history.
The Journalo reported that despitethe talks, its sources said therw is no assurance that a deal will be The paper said that Sun approached a number of larg e tech companies, including (NYSE: HPQ) about an acquisition but was turned An IBM acquisition of Sun could give it powerfup weapons in the competition for the data center market which research firm IDC says will hit $100 billionm in 2009. "Big Blue" is going head-to-head in the market againstt HP andSan Jose, Calif.-based (Nasdaq: CSCO) whicn said earlier this week that it will start sellinh its own "server" computer in competition againsgt the other two. Cisco and HP had previously worker together inthe market.
Palo Alto, Calif.-baseds HP made a big move in the market when itpaid $13.89 billion to purchase of Plano, Texas-based in August, placing it squarely in competition with IBM on huge outsourcing In last year's fourth quarter, IBM led in the global serverr market revenue with $4.9 billion in sales, about 36 percent of the HP was No. 2 with $3.9 billioj in sales or about 29 percent ofthe (Nasdaq: DELL), with $1.4 billio in sales, and Sun, with about $1.3 were a distant No. 3 and No. 4.
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