Sun and KKR Agree to $700 Million PIPE

Sun Microsystems Inc. (Nasdaq: SUNW) has received a $700 million PIPE infusion from KKR Private Equity Investors, the Amsterdam-listed fund of Kohlberg, Kravis Roberts & Co. The deal includes $350 million of convertible senior notes due in 2012 and $350 million of convertible senior notes due in 2014. KKR also will receive a seat on the Sun board of directors. www.sun.com