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Ellison drops bid to buy Apple

Oracle CEO Larry Ellison has dropped his much-publicized bid to buy Apple Computer.

Oracle CEO Larry Ellison announced today that he has dropped his much-publicized bid to buy Apple Computer.

Ellison said in written statement that he is not engaged in discussions with Apple or any of its shareholders concerning a possible acquisition of the computer manufacturer, an idea that he suggested late last month.

However, according to the statement, he remains "interested in developments at Apple" and "may well purchase stock for investment purposes or otherwise, or revisit in the future [his] decision regarding an acquisition or control of that firm."

Details to follow