Sun-Oracle Deal Heads To Shareholders

SANTA CLARA, Calif. (AP) -- Sun Microsystems Inc. said Monday that its board has chosen July 16 for a shareholder meeting to vote on the planned $7.4 billion takeover by Oracle Corp.

Sun, which makes computer servers and software, said the meeting will take place at its Santa Clara, Calif., headquarters.

Oracle, based in Redwood Shores, Calif., struck a deal in April to take over the company for $9.50 per share.

Sun shares edged up 5 cents to $9.22 in afternoon trading, while Oracle's stock was up 15 cents to $20.86.

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