Sun's board rejected a formal acquisition offer by IBM on Saturday, considering the offer price too low, the Journal said. Sun was also concerned that the offer gave IBM too much leeway to walk away from the deal, according to the newspaper, which cited unnamed sources familiar with the situation.
IBM, Sun unable to reach a deal, report says
05.04.2009
IBM and Sun Microsystems have been unable to reach agreement on the terms of an acquisition, with the talks nearing collapse on Sunday, the Wall Street Journal reported.