IBM withdraws $7 billion offer for Sun
The New York Times
IBM withdrew its $7 billion bid for Sun Microsystems on Sunday, one day after Sun's board balked at a reduced offer, according to three people close to the talks. The deal's collapse after weeks of negotiations raises questions about Sun's next step, since the I.B.M. offer was far above the value of the Silicon Valley company's shares when news of the I.B.M. offer first surfaced last month.
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