Sun Almost Acquired Apple In 1995 For $5-$6 Per Share
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry
Former Sun CEOs Scott McNealy and Ed Zander were at a Churchill Club dinner earlier this week and McNealy shared a story about how the company almost bought out Apple. However if that deal went through, we most likely would not see the invention of iPods or iPads because McNealy said he wold “have screwed that up.” Around 1995, Sun was one of the largest producers of servers, data storage systems, and unix data center software. When Sun was at one of its highest points, they went into negotiations for buying out Apple.
“Back in late 1995 early ’96, when we were at our peak, we were literally hours away from buying Apple for about $5 to $6 a share,” said Zander. “Honest to gosh, I was at an analysts’ meeting in San Diego on a Tuesday morning and was getting ready to announce that we were going to buy Apple. I don’t know what we were going to do with it, but we were going to buy it. (Apple) had no CEO at the time, Steve (Jobs) wasn’t there, but we didn’t get it. Why didn’t we buy it?” McNealy said there was an investment banker on Apple’s side that blocked the deal by adding so many terms.