Sun Micro up after Oracle says it will buy it

NEW YORK Mon Apr 20, 2009 7:38am EDT

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NEW YORK (Reuters) - Shares of Sun Microsystems JAVA.O rose in premarket trade on Monday, after Oracle Corp ORCL.O said it would buy the company for $9.50 a share in cash.

Shares of Sun surged 27.1 percent to $8.50 before the bell, while Oracle shares were down 4.2 percent to $18.25.

(Reporting by Ryan Vlastelica, Editing by Walker Simon)