Sun Microsystems Inc. (NASDAQ: JAVA) is getting worked liked a punching bag. The E.U. has decided that a very in-depth review and probe is needed in the acquisition by Oracle Corp. (NASDAQ: ORCL). Maybe the E.U. likes for tech companies to lose money and to not do well at most big efforts financially, because that has been the case at Sun Microsystems for the better part of a deacde. Anyhow, shares are down only about 2% as the merger-arb-spread traders are getting out of the way here. Shares are down at $9.11 on over 19 million shares as of 8:52 AM EST. Average volume is about 12.7 million shares. Oracle is getting worked over on a lesser scale as shares are down 0.8% at $21.59 on over 500,000 shares (avg. volume is 30 million shares on Oracle). -JON C. OGG
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