Key Developments For Sun Microsystems, Inc.
Sun Microsystems, Inc. (JAVA.O) (Nasdaq)
European Union Extends Review Of Oracle Corporation Plan To Buy Sun Microsystems, Inc.-Reuters
Reuters reported that European Union regulators have extended their review of plans by Oracle Corporation to buy Sun Microsystems, Inc. for $7 billion, giving Oracle more time to tackle concerns the deal may be anti-competitive. The executive European Commission has objected to Oracle's planned acquisition of Sun, throwing the deal into question. The Commission said it had pushed back its deadline to January 27 from January 19. It gave no further details. The Commission said in a preliminary assessment that combining Sun's MySQL database product and Oracle's products could hurt competition over databases, Sun said in a filing with the U.S. Securities and Exchange Commission this month. Oracle had said at the time that it 'plans to vigorously oppose the Commission's statement of objections'.
European Regulators Object To Oracle Corporation-Sun Microsystems, Inc. Deal-AP
The Associated Press reported that European antitrust regulators have formally objected to Sun Microsystems Inc.'s planned $7.4 billion sale to Oracle Corporation, escalating a battle over a deal that has already been cleared in the U.S. The so-called statement of objections that Sun received from the European Commission isn't entirely surprising, since the commission already expressed concerns about possible harm to the database market from an Oracle-Sun tie-up when it launched a formal antitrust probe of the deal in September. Uncertainty about the deal, which both companies had hoped would close this summer, has wounded Sun. In a filing with the Securities and Exchange Commission, Sun stressed that European regulators' objections are the result only of a preliminary investigation and that the commission hasn't made its final decision about the matter. Sun and Oracle are allowed to argue their case to the commission, which Oracle said it will do to correct what it called a profound misunderstanding about the companies' markets. The European Commission has said it is worried that businesses could have fewer choices and see higher prices if Oracle swallows Sun. Oracle said in a statement that the commission's objection reveals a profound misunderstanding of both database competition and open source dynamics. One possibility is that Sun might be forced to sell or spin off MySQL.
Brussels Set To Complain Over Oracle Corporation's Deal To Buy Sun Microsystems Inc-Reuters
Reuters reported that, according to the Financial Times newspaper, Oracle Corporation is expecting a formal objection from the EU Commission in Brussels to its planned $7.4 billion acquisition of Sun Microsystems Inc within days. Oracle has not offered any concessions to European regulators espite concerns about the impact of the Oracle-Sun deal on the database market. EU Competition Commissioner Neelie Kroes has to date only prohibited two merger deals. The EU competition review has a deadline of Jan. 19, 2010. The Oracle-Sun deal already has been cleared by the U.S. Department of Justice.
Columbia University Selects Sun Microsystems, Inc.'s Open Source Sun Solution
Sun Microsystems, Inc. announced that Columbia University will use an open source Sun solution to run its digital preservation project, and also that the University of Zurich is deploying Project Wonderland projects to advance an ambitious global eLearning initiative. Designed to help simplify the implementation of open source technologies and achieve cost-effective interoperability, the Sun Open Computing portfolio includes Sun Open Storage, OpenSolaris Operating System, Sun Open Archive solutions and the OpenSPARC T1 processor.
Sun Microsystems, Inc. Updates On Restructuring Plan-Form 8-K
Sun Microsystems, Inc. reported in its Form 8-K in light of the delay in the closing of the acquisition of the Company, the Board of Directors approved a plan to better align the Company's resources with its strategic business objectives, including reducing its workforce across the North America, EMEA, APAC and Emerging Markets regions by up to 3,000 employees over the next 12 months.
