IBM has withdrawn its offer to buy Sun Microsystems for about US$7 billion this weekend, clouding the prospects for a deal that would have shaken up the computing industry.
Talks were in their final stages in recent days, but IBM took its offer off the table this weekend after Sun terminated IBM's status as its exclusive negotiating partner, according to two people familiar with the situation, who spoke on condition of anonymity because they were not authorised to disclose the negotiations.
One of these people said the two sides were still meeting Sunday.
The breakdown in the negotiations was first reported by The Wall Street Journal.
AP