IBM breaks off talks to buy Sun Microsystems
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By withdrawing its offer to buy Sun Microsystems on Sunday, IBM has left the future uncertain for a pioneering but struggling Silicon Valley tech company. Still, the talks may not be over.
After extensive negotiations, the two tech giants had appeared close to finalizing a deal for about $7 billion at the end of last week. But IBM lowered its offer and then withdrew it Sunday, after Sun balked at the price and terms of the sale, according to a source familiar with the negotiations.
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