Business
As Sun's world turns (worse): The latest
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.
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.
Relational wasn't the only seller of Sun shares. Here's a look at the five-day chart.
Previous installments of the IBM-Sun saga: