- New attack fells Internet Explorer
- Steve Jobs is a man of a few words
- Oddball gifts for uber geeks
- Global warming research exposed after hack
- Google adding IPv6 to YouTube
Sun Microsystems' shareholders voted on Thursday to approve the company's acquisition by Oracle, but not by a wide margin.
Slideshow: Hottest tech M&A deals of 2009
Shareholders holding about 62 percent of Sun's stock voted in favor of the deal at a special meeting at Sun's offices in Santa Clara, California, said Sun spokesman Dana Lengkeek. A majority of shares was required to move the deal forward.
Oracle has said it expects to close the deal this summer. It still needs clearance from regulators in the U.S. and Europe, although most observers expect the deal to pass unchallenged.
Oracle announced in April that it planned to acquire Sun for $9.50 per share, or about $7.4 billion in cash. Sun had been struggling to grow its business and maintain a profit for years, and the recession took a heavier toll on the company than on most of its large competitors.
Earlier this week Sun said its second-quarter sales were likely to fall by almost a third compared to the same quarter last year, to about $2.6 billion. Oracle said it expects the deal will add to its earnings in the first full year after closing.
Rss FeedRss Feed
The Leader in Network Knowledge
Partner Content
www.bmc.com
Gartner 2009 Magic Quadrant for Job Scheduling
Gartner has positioned BMC CONTROL-M in the Leaders Quadrant of their "2009 Magic Quadrant for Job Scheduling." The report assesses the ability to execute and completeness of vision of key vendors in the marketplace. Read a full copy today, courtesy of BMC Software.
Download whitepaper
Dell's SMART Approach to Workload Automation
Read a compelling case study by EMA, Inc. to learn how Dell uses BMC CONTROL-M to cut cost and increase productivity with workload automation.
Download whitepaper
Workload Automation Cost Savings 2 Minute Video
A major computer manufacturer uses BMC CONTROL-M and just four people to schedule and run over 85,000 jobs every month. By switching to BMC CONTROL-M, they more than quadrupled the workload without adding a single staff member. See how in this 2-minute video overview.
Go to video
Comment