As of today, the shareholders of Sun Microsystems have approved the merger with Oracle at a meeting at Sun’s offices in Santa Clara, California. Announced on April 20th, Sun will be bought for $9.50 a share in cash, a grand total of $7.4 billion.
Thus far, the merger has encountered some bumps in the road. Despite confident statements from Oracle predicting the closure of the deal this summer, an antitrust investigation by the U.S. Department of Justice is underway. The DOJ extended the window for looking in to the company past the usual 30-day limit.
It may not be the sign of an overwhelming mandate, but the results of this special shareholder meeting certainly signal confidence that the merger will be approved.
Photo credit: Javier Vidal Postigo