DJ Sun Microsystems To Buy Omnivision For $1400 M In Cash>SUNW
SANTA CLARA, Calif. (Dow Jones)--Sun Microsystems Inc. (SUNW) agreed to acquire Omnivision Technology Corp. (OVTI) for $1.4 billion.
In a press release Tuesday, Sun said it will pay $24.25 a share in cash for Omnivision, a premium of 80% to Omnivision's closing price Monday of $13.36.
The calculation of the total price also includes stock options.
Shares of Omnivision were halted Tuesday morning. In their last premarket trade, they changed hands at $23.55, according to INET.