Path: utzoo!attcan!uunet!seismo!sundc!pitstop!sun!ingersoll!sxn From: sxn%ingersoll@Sun.COM (Stephen X. Nahm) Newsgroups: comp.unix.wizards Subject: Re: Open Software Foundation Message-ID: <54988@sun.uucp> Date: 31 May 88 23:39:37 GMT References: <14976@brl-adm.ARPA> <54822@sun.uucp> <3648@psuvax1.psu.edu> Sender: news@sun.uucp Reply-To: sxn@sun.UUCP (Stephen X. Nahm) Organization: Sun Microsystems, Mountain View Lines: 25 Distribution: In article <3648@psuvax1.psu.edu> ehrlich@blitz.cs.psu.edu (Dan Ehrlich) writes: >It is my understanding the AT&T currently owns 20% of SUN Microsystems' >stock (it may be less with options up to 20%). Not true. AT&T can and has bought 5% of Sun's stock on the open market. The remaining 15% of Sun's stock will be sold to AT&T at Sun's discretion. This stock will be newly issued shared and AT&T will buy the shares at a fixed percentage premium over the current market price (averaged over about 20 days). So far, Sun has issued AT&T about an additional 2.5% (of Sun's outstanding) shares. The average price was about $36, and AT&T bought these for around the low- to mid-forties. > Anytime a single >company or individual owns that large a block of stock they most >assuredly can influence major decisions. This, of course, is true (even given that AT&T now owns "only" 7.5% of Sun). We now return you to comp.osf.debate (from this brief excursion into comp.finances.AT&T.sun). Steve Nahm sxn@sun.COM or sun!sxn