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The Spokesman-Review Newspaper
Spokane, Washington  Est. May 19, 1883

Worry Over Sale Price Hurts Apple

Compiled From Wire Services

Apple Computer Inc.’s stock fell as much as six percent amid concern that the computer maker will be purchased at a discount to its market value.

Apple’s stock declined 1 1/8 to 29 1/2 in late trading of 2.75 million shares after falling as low as 28 3/4.

Apple isn’t denying that it is negotiating with Sun Microsystems Inc., a leading manufacturer of network computing systems. A story in today’s Wall Street Journal said Sun’s latest offer was in the mid-20s.

“I would hope Apple would not accept a bid in the low 20s,” said Marian Kessler, portfolio manager at Crabbe Huson Group, which owns about 1 million shares of Apple. “They would face a lot of shareholder lawsuits for anything not in the 40s.”