Sun Microsystems is ready to re-enter takeover talks with IBM if its rival makes a stronger commitment to the deal, reports Bloomberg. Talks broke down two weeks ago after Sun reportedly rejected a USD7bn offer from IBM.
Though the companies are currently in stalemate, Sun sources reportedly claim that firmer guarantees from IBM would kick-start negotiations. Sun reportedly broke off exclusive negotiations after failing to receive assurances that IBM would follow through if the takeover was subject to antitrust restrictions.
Sources also claimed Sun was unhappy with IBM's maximum offer of USD9.40 per share. Initial reports suggested Sun expected a price tag of between USD10 and USD11 per share.
Since takeover talks stalled, Sun's share price has fallen by more than 23%.
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StrategyEye's related companies: IBM, Sun Microsystems
