Storagetek Shareholders Approve Acquisition By Sun - SUPERCOMPUTING NEWS

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Storagetek Shareholders Approve Acquisition By Sun

Written by: Writer
Category: SCIENCE
Published: January 29, 2009, 8:38 pm
Storage Technology today said its stockholders approved the acquisition of the data storage equipment maker by network computer maker Sun Microsystems. Under the terms of the agreement, StorageTek will become a wholly owned subsidiary of Sun, which agreed to buy StorageTek, as it is commonly known, for $37 per share in cash. StorageTek and Sun Microsystems expect to complete the acquisition Wednesday, at which time trading in StorageTek common stock will be suspended.

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