The Register® — Biting the hand that feeds IT

Sun shareholders act to block Oracle deal

Things turn litigious

Free whitepaper – The Dell Management Console and ITIL

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.

Free whitepaper – Thermal design of Dell PowerEdge server

Don’t Miss

DustbinDirty, dirty PCs: The X-rated picture guide

Ventblockers Horror beyond human imagination

SC09Top 500 supers - rise of the Linux quad-cores

SC09 Jaguar munches Roadrunner

Ubuntu teaser Early adopters bloodied by Ubuntu's Karmic Koala

Smooth Windows upgrade it ain't

Sign up, sign up for The Register IT security newsletter

Narrowcasting for the email classes