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Will McNealy Take Sun Private?

Posted by ryuzaki0 on from the going-back-underground dept.

krygny writes "There is speculation that with $7.5 billion in cash, and liquidation of other assets, Sun could leverage a buyback of all publicly traded shares of SUNW at between $5 and $5.50 per share. I suppose, that would relieve them of Sarbanes-Oxley requirements, which Scott McNealy never really liked. (Who does?) For anyone at Sun who survives the tumult, hopefully, there could also be a return to the former corporate culture."

7 of 203 comments (clear)

  1. Will McNealy Take Sun Private? by Anonymous Coward · · Score: 4, Informative

    No.

  2. Already debunked. by ajlitt · · Score: 4, Informative

    http://theinquirer.net/?article=22920

  3. Sun's already denied it by Brento · · Score: 3, Informative

    They've already called it "a joke":

    Sun Micro President Denies Report of Plan to Go Private

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    What's your damage, Heather?
  4. Already denied by McNealy ... by 68kmac · · Score: 3, Informative

    As anyone going over to Google News can easily find out, this as already been denied by Mr. McNealy himself ...

    See Forbes, for example.

  5. Hoax by c0l0 · · Score: 4, Informative

    This is supposed to be some kind of business-Hoax thought up by a bunch of hedge-fonds-managers to fool investors, as heise.de pointed out already yesterday.

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    :%s/Open Source/Free Software/g

    YTARY!
  6. Every few months by selil · · Score: 5, Informative

    This rumor circulates every few months. In the three years I worked at Sun it popped up at least every six months. Especially after donut Wednesdays went away. There alwasys seem to be this talk about the stock being substantially worth less than the assets of the company. Wasn't that what all those stock buyouts in the 80's were about? Buying companies for their assets versus their worth as a producer?

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  7. Re:Buying back by tackaberry · · Score: 5, Informative

    Not really. Once they gain control of like 90% of the shares, they would use various methods to squeeze out the disenting shareholders. Once of which is to do a reverse stock split.

    For example, the company will exchange 1,000 old Sun shares for 1 new Sun shares. If a shareholder has 200 shares, then this is not enough to exchange for a new share, and they get cashed out.