Sun Microsystems Inc. (JAVA), Oracle Corp. (ORCL)

Premium offered: $0.14 or 1.50%
Acquirer: ORCL
Target: JAVA
Offer per share: $9.50 cash (too bad I paid $12.25/share)
Value of outstanding common equity: $7,074,650,000
Target share price: $9.36
Acquirer share price: $25.00
Expected closing: N/A
Annualized gain: N/A
Note: The U.S. Justice Department cleared the way for Oracle's acquisition
of Sun Microsystems about a month after Sun's shareholders approved the
deal. Oracle withdrew its application for clearance in Russia where
authorities are unwilling to approve the deal ahead of a decision from the
European Commission. The EC objected to the deal, saying Sun's MySQL
database software would reduce competition in the database market. The
European Union later extended its review of the deal to the end of Jan.
after Oracle asked for the extension to allow it more time to respond to the
concerns the Commission voiced. A bipartisan group of U.S. senators have
been urging the European Commission to speed up its investigation into the
ORCL/JAVA deal, saying JAVA's financial position has become more precarious
as the EC's inquiry has continued. Oracle's Chief Executive Larry Ellison
has said he's willing to create a separate entity to house its MySQL open
database business in order to placate European regulators and follow through
with the acquisition.