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Sun, Apple deal snagged on price

The on-again, off-again deal between Sun Microsystems and Apple Computer has hit a snag due to a disagreement over price, according to a Reuters report, which also said that Sun is offering only $25 per share.

Talks between Sun Microsystems and Apple Computer have snagged over the issue of price, according to a report from Reuters.

A source in the Reuters report said talks between the two companies are ongoing, but a deal is not imminent. Other sources quoted in the report said Sun chairman Scott McNealy is unwilling to pay more than $25 per share for Apple stock.

McNealy had offered a price of $28 per share a few weeks ago, but after the disastrous first quarter financials reported by Apple, the Sun chairman was unwilling to pay more than $25.