Date set for Sun stockholders to vote on Oracle merger

Sun Microsystems has announced that a special meeting of it's Board of Directors has approved a July 16, 2009 date for a special stockholder meeting to vote on the adoption of the proposed merger agreement with Oracle Corporation.

On April 20, 2009, the companies jointly announced the merger. The transaction is valued at approximately $7.4 billion USD, with Oracle purchasing Sun stock with cash for $9.50 per share, a premium of nearly $3 per share over previous market value. Sun's Board of Directors had already unanimously approved the transaction and it is anticipated to close this summer, subject to this stockholder vote and regulatory approval.

In March 2009, IBM had previously expressed interest in purchasing Sun, for $7 billion USD, but withdrew the offer, citing concerns about executive compensation, a few weeks before Oracle made their bid.

Larry Ellison, Oracle's chief executive, has described Sun's Java platform as "the single most important software asset we have ever acquired."

In November 2008, Sun announced they would lay off 6,000 workers (about 18% of their global workforce) in order to cut operational costs. This is in addition to the 2,500 jobs that were cut in May of that year. At that time, Sun said they had posted a net loss of $1.7 billion USD, that year.

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4 Comments

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Sun never told any UK employees before they did this whole merger thing with Oracle. They've let people go (but always on "it's the economy!" grounds mostly up to now, but hopefully we'll not see the great number of job losses here that we've seen in the US with Sun over the past few months.

PS I agree with n_K that there are serious issues here for the open source community, especially mysql.

Hope ALL vote AGAINST this, would mean mysql basically gets screwed over, no more upgrades or they'd bug it on purpose so everyone has to get oracle... I've nearly (unfortunatly) finished my oracle online course and I'd wish that I'd have never started; absolute rubbish, incompatible commands and full of stuff I couldn't care about, I hope I never EVER have to use such an appauling disorganised database system in my life.

i don't get you complain about Oracle. Oracle support ANSI SQL, also MySQL but when you want to do some out-of-the-specification sql command then you can't expect full compatibility. In any case, any command done under mysql can be done in Oracle, the opposite sometimes is not possible at all.

For example :
SQL SERVER : Select top 10 * form table.
MYSQL :Select * from table limit 10
Oracle :Select * from table where rownum

Magallanes said,
i don't get you complain about Oracle. Oracle support ANSI SQL, also MySQL but when you want to do some out-of-the-specification sql command then you can't expect full compatibility. In any case, any command done under mysql can be done in Oracle, the opposite sometimes is not possible at all.

For example :
SQL SERVER : Select top 10 * form table.
MYSQL :Select * from table limit 10
Oracle :Select * from table where rownum

It's possible with rownum to upper limit a query but when you want to use a lower limit or sort the query it's not really a "beautiful" to do it. It's even a really ugly way to do it. We have Oracle 10g here and since rownum is done before the order statement if you do rownum < 10 you will get the first 10 rows the BD will return before any order statement. If you want to select the first 10 lines sorted you need to do a select included in another select and add rownum as a column returned by the first ordered select statement. You need to do the same trick if you want to get a lower limit since rownum > 10 doesn't work in the first select statement.

SELECT junk FROM (SELECT rownum as RN, junk FROM SOME_JUNK ORDER BY junk_unindexed) WHERE RN < 10
SELECT junk FROM (SELECT rownum as RN_INCREMENTED, junk FROM SOME_JUNK WHERE ROWNUM < 10) WHERE RN_INCREMENTED > 2