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Sun Microsystems Down on Deal

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Sun Microsystems

(SUNW) - Get Report

slipped 1.4% in preopen

Island

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trading after is said it would buy

Cobalt Networks

(COBT)

for about $2 billion in stock. Sun said it would swap 0.5 of its shares for each share of Cobalt. Sun closed at $115.25 Monday; Cobalt finished at $41.13.