Sun Shareholders Approve Oracle Acquisition
© Silveira Neto
With 62 percent voting in favor of the deal, Sun Microsystems shareholders have approved the company's merger with Oracle.
"Pending approval by the Justice Department, database titan Oracle is set to acquire Sun for $9.50 per share in cash, or $5.6 billion including Sun's cash and debt…
Neither Sun Chairman Scott McNealy or Sun CEO Jonathan Schwartz attended the meeting, and the vote was over in minutes, putting an end to a 27-year-old company whose influence on Silicon Valley and the technology industry has been profound," writes InformationWeek's Deborah Gage.
"By buying Sun, Oracle will transform itself from a software and services company into a hardware, software and services company in the same league with other diversified information technology companies like IBM and HP," according to The Inquirer.