Sun Microsystems on Thursday said that at a special meeting of stockholders its stockholders adopted the merger agreement entered into with Oracle Corp., under which Oracle will acquire Sun common stock for $9.50 per share in cash. Approximately 62% of the shares of Sun common stock outstanding as of the record date for the meeting voted to adopt the agreement.
The merger between Sun and Oracle may have rather crucial results on the market of microprocessors since Oracle is hardly interested in making chips, but is more interested in creating software and providing services. As a result, after the two companies become one, Oracle may cease development of SPARC processors and start to make high-end servers using central processing units from Fujitsu. Obviously, the company will continue to manufacture servers powered by AMD Opteron and Intel Xeon processors.
The transaction remains subject to regulatory approvals and other closing conditions.