Feeds

Sun shareholders act to block Oracle deal

Things turn litigious

Top 5 reasons to deploy VMware with Tegile

Larry Ellison might be expressing his love for Sun Microsystems' Sparc, but there's no guarantee the architecture will actually finish up in his arms.

A group of Sun shareholders have gone to court in an attempt to block the Oracle chief executive's proposed $5.6bn acquisition of the company.

Shareholders have filed three separate actions citing "breach of fiduciary duty", according to Sun's latest Securities and Exchange Commission (SEC) filing. The actions have been filed with a court in Sun and Oracle's home state of California.

The lawsuits claim the amount offered for Sun is "unfair and inadequate." The tender price offered by Oracle was generally considered to be a bargain, and came as Sun has been shopping itself around the industry. Ironically, it was a group of Sun's shareholders - Southeastern Asset Management - that increased their holding in the company throughout the course of 2008 as part of a move to influence management and help "realize" Sun's value.

Sun and Oracle have yet to respond to the allegations.

You can read Sun's full filing here.

Secure remote control for conventional and virtual desktops

More from The Register

next story
The 'fun-nification' of computer education – good idea?
Compulsory code schools, luvvies love it, but what about Maths and Physics?
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.