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In what amounts to a virtual corporate staring contest, only less exciting, both Sun Microsystems and IBM appear unwilling to blink first and wants the other to make the first move towards an acquisition. For Sun's part, the company is now saying it would be willing to resume takeover talks with IBM, provided IBM makes a stronger show of commitment to seal the deal.
IBM had previously offered close to $7 billion to acquire Sun, but Sun, skittish that IBM would change its mind in the face of an antitrust review or other barriers, as well as feeling that the amount was too low, rejected the bid and said it would no longer negotiate with IBM exclusively.
Since the talks broke down, Sun's shares have fallen, causing the company to lose about 28 percent of its value. IBM's shares have fallen too, but to a much lesser extent.
Both Sun and IBM refused to comment on what progress, if any, is being made.
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