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Shares of Sybase jump on rumors of acquisition by SAP

There are no confirmation yet but reports are surfacing that SAP will buy Sybase in a $6 billion deal.

Written by Sam Diaz, Inactive May 12, 2010 at 6:28 a.m. PT

updated: Shares of Sybase skyrocketed more than 35 percent in the final hour of regular trading on a Bloomberg report that the company would be acquired by SAP.

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Since then, the Wall Street Journal has reported that SAP has agreed to acquire Sybase for $65 per share, citing unnamed sources. Bloomberg said earlier that the deal was for $6 billion but that its sources said it could still fall apart.

The companies have yet to announce the deal, though that announcement still could come today, the WSJ said.

Shares of Sybase were up more than 35 percent in regular trading, closing at $56.14. Shares continued to climb in after-hours trading, up as much as 13 percent.

Related coverage: SAP, Sybase partner to deliver apps for any device

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Shares of Sybase jump on rumors of acquisition by SAP

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