Sun-IBM Merger Talks Collapse

"The WSJ reported that Sun officials felt that IBM's offer of $9.40 a share or less was too low and that IBM had too much leeway to walk away from the deal, which could face substantial antitrust issues.

"The two sides could still work out a deal, but the Journal reported that Sun has sent a notice terminating IBM's agreement for exclusive negotiations, while IBM has withdrawn its offer to buy Sun. The two sides apparently remain in touch by phone, however."

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