Sun Micro to buy StorageTek for $4.1 bln
Duncan Martell writes for Reuters:
Network computer maker Sun Microsystems Inc. said on Thursday it agreed to buy Storage Technology Corp. for $4.1 billion in cash, bolstering its presence in the fast-growing market for data storage.
Santa Clara, California-based Sun will pay $37 per share for Louisville, Colorado-based Storage Technology, also known as StorageTek, and the price includes the assumption of StorageTek employee stock options. The $37 price is an 18.5 percent premium to StorageTek's closing price on Wednesday.
posted by Fergie @ 6/02/2005 06:23:00 AM
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