In 2006, it was disclosed that Sun and
Apple have discussed a
merger on multiple occasions. In late 2008, Sun was approached by
IBM to discuss a possible merger. At about the same time, Sun also began discussions with another company, widely rumored but not confirmed to be
Hewlett-Packard, about a potential acquisition. By March 2009, talks had stalled between Sun and both IBM and the other potential suitor. On April 20, 2009, Sun and Oracle announced that they had entered into a definitive agreement under which Oracle would acquire Sun for $9.50 a share in cash. Net of Sun's cash and debt, this amounted to a $5.6 billion offer from Oracle. Sun's shareholders voted to approve the proposal on July 16, 2009, although the deal was still subject to regulatory approvals. The terms of the agreement between Oracle and Sun included dependencies on the antitrust laws of "the United States and Canada, European Union, China, Israel, Switzerland, Russia, Australia, Turkey, Korea, Japan, Mexico and South Africa". On August 20, 2009, the U.S. government, pursuant to the
Clayton Antitrust Act, approved Oracle's purchase of Sun. On September 3, 2009, the
European Commission announced that it would not immediately approve the deal, but would instead perform a second round of investigation, focusing on the implications of Oracle's control of
MySQL (acquired by Sun in 2008). On October 20, 2009, Sun filed with the
U.S. Securities and Exchange Commission (SEC) its intention to cut 3,000 jobs globally over next 12 months, citing losses caused by delays in the acquisition process. On November 6, in its 10-Q filing for the 1st quarter of the 2010
fiscal year, Sun announced a 25% total revenue decrease compared to the 1st quarter of the previous year, due to "economic downturn, the uncertainty associated with our proposed acquisition by Oracle, increased competition and delays in customer purchasing decisions". On January 21, 2010, EU Competition Commissioner
Neelie Kroes announced unconditional approval of the deal. On January 27, 2010, Oracle announced that it had completed the acquisition. == Resignations ==