Oracle is to acquire Sun for $5.6 billion, net of cash and debt. GigaOM has a longer analysis. As a smart guy I know said when he heard the news: WTF!
Personally I'm really surprised, as I saw Oracle as a software/services company and not a hardware company. Either IBM or Cisco would have made more sense to me. And as for most people running a big site on LAMP, the first question was: What will happen to MySQL?
On another note, Oracle paid 3.6 % of Sun's highest ever market capitalization (reached in September 2000).