Sun Microsystems’ stock jumped 61 percent to $6 in Frankfurt after morning trading. According to the Wall Street Journal, International Business Machine is offering to pay $6.5 billion in cash, a 100 percent premium over the Tuesday closing price.
Since the dot-com bust, Sun has struggled to find its footing in the new paradigm of open-source software and low-cost servers. Over the last few months, Sun has approached several large technology companies in hopes of being acquired, quoting “people familiar with the matter” by the WSJ.