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WAYNE, Pa. (AP) - SunGard Data Systems Inc., a maker of investment support systems for banks, stock exchanges and mutual funds, said Monday it is in talks over a possible sale of the entire company. Its shares surged more than 24 percent.
SunGard's board has authorized its advisers and management to engage in the discussions, while at the same time proceeding with the planned spin-off of the company's disaster-recovery business, which was announced last fall.
Earlier Monday, the New York Post reported that a consortium led by San Francisco-based Silver Lake Partners was negotiating to purchase Wayne-based SunGard for up to $10 billion.
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