Sun Microsystems tumbled in early trade yesterday, as reports said that IBM had withdrawn its offer for the company.
The talks had stalled over the weekend over various issues including pricing, transaction certainty and how potential antitrust hurdles could be addressed. By yesterday morning, several news outlets were reporting that the deal had collapsed, triggering a 24.6 per cent fall in Sun's shares to $6.40. IBM lost 1.4 per cent to $100.80.
