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CNNfn: Sun to buy Cobalt for $2B

Sep 19, 2000, 14:30 (0 Talkback[s])

[ Thanks to Henry Pierre for this link. ]

"Acquires server appliance provider in stock swap to gain market share"

"Sun Microsystems Inc. said Tuesday it agreed to buy Cobalt Networks, a maker of gear for Internet applications, for about $2 billion in stock."

"Under the deal, each share of Cobalt (COBT: Research, Estimates) common stock will be converted to 0.5 Sun shares, a stock swap worth about $2 billion, the companies said in a statement."

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