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Apr 27
2009
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Database provider and business software maker Oracle said this morning that it has entered into a definitive agreement to acquire Sun Microsystems in a deal worth about $7.4 billion.
Oracle said it will acquire all the outstanding stock of Sun for $9.50 per share in cash, representing a 42.1 percent premium from Friday's closing price of $6.69.
But after taking into account Sun Microsystem's cash and outstanding debt position, the deal's value is only $5.6 billion, both companies said.
