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IBM out of Sun deal?

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IBM out of Sun deal?

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IBM’s talks to acquire smaller computer and software rival Sun Microsystems are reported to have broken down.

Sun’s shares slumped on the report which said it had rejected IBM’s offer which was worth just over five billion euros. A buyout was seen as the best means of survival for the once highly respected Silicon Valley company, which has been losing market share. A deal would also have helped IBM compete more effectively against rivals such as Hewlett-Packard.