Software giant Oracle is to buy server and software maker Sun Microsystems, the two companies announced late Monday. In a joint statement, Oracle said the transaction was valued at approximately US$7.4 billion, or US$5.6 billion net of Sun’s cash and debt. Sun’s stock will be bought at US$9.50 in cash per share. The deal has been unanimously approved by Sun’s board, but still needs to be approved by Sun’s shareholders and financial regulators, the companies said
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