Sun Microsystems gets shareholder approval to merge with Oracle

By Angela McDaniels

Tacoma, Wash., July 16 - Sun Microsystems, Inc. said its stockholders adopted the company's merger agreement with Oracle Corp. at a special meeting of stockholders on Thursday.

The holders of about 62% of Sun's common stock outstanding as of the record date for the meeting voted to adopt the agreement, according to a company news release.

As previously reported, Oracle agreed in April to acquire Sun Microsystems for $9.50 cash per share in a deal valued at approximately $7.4 billion including debt.

The transaction remains subject to regulatory approvals and is expected to close this summer.

Oracle is a Redwod City, Calif.-based enterprise software company.

Sun is a Santa Clara, Calif., networking computing technologies company.

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