Last week there were many reports that the rumored deal for IBM to buy Sun Microsystems was dead. Our take at the time was that wasn’t clear whether the deal was genuinely on its deadbed or the two companies were negotiating through media leaks.
Bloomberg is now reporting that the two companies may be ready to resume talks “if IBM makes a stronger commitment to close the acquisition.” Sun’s shares have slipped to $6.13 since the companies stopped talking, well below the reported IBM offer of $9.40 a share. This is obviously one to watch. This feels like one of those scenarios where things could come together quickly if the parties actually return to the table.