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
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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