Playing Sun Microsystems

My next arb play is Sun Microsystems (Ticker: JAVA). I'm just about finished building a decent position in this stock. So far the average cost for my holdings is $9.19. It's a pretty good risk / reward risk arb play. You're looking at ~ + 20% annualized return with an end of August closing. Oracle (Ticker: ORCL) has the cash already to pay for this deal. Just need to wait for the US and EU regulators to give their blessing. There shouldn't be any issues, but you never know. Regulators can behave irrationally at times...