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Southeastern buys 18 million shares of Sun Microsystems
By Lisa Kerner
Charlotte, N.C., Oct. 22 - A group of Sun Microsystems, Inc. shareholders led by Southeastern Asset Management, Inc. bought 18,005,450 shares of the company's stock between Aug. 22 and Oct. 20 at prices from $4.97 to $9.53 each.
According to the filing, Southeastern is converting its ownership filing on schedule 13G to a filing on schedule 13D to "obtain the flexibility to discuss various alternatives" with Sun Microsystems' management or with third parties.
The investors beneficially own 160,566,828 shares, or 21.2%, of the Santa Clara, Calif., company.
Sun Microsystems develops network computing technologies.
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