Updated from 1:56 p.m. EDTIBM ( IBM) will lower its offer price to Sun Microsystems ( JAVA), according to a report.
Citing people familiar with the matter, The Wall Street Journal on Thursday reported that IBM has cut its takeover price to between $9 and $10 a share in exchange for deal commitments. Sun reportedly will accept the offer in the face of antitrust concerns, according to the Journal. As TheStreet.com's Scott Moritz pointed out this week, signs had suggested the possible merger was beginning to lose steam. IBM shares were recently rising 2.9% to $100.39. Sun shares were rising 1.6% to $8.13.