Feeds

Sun shareholders approve Oracle deal

Far from unanimous

Intelligent flash storage arrays

The shareholders that actually own Sun Microsystems - as opposed to the people who used to run it and behaved as if they owned it - approved of the $5.6bn takeover of Sun by software powerhouse and server and storage (not)wannabe Oracle.

According to a terse statement from Sun - and the last thing Sun will say as an independent company unless antitrust regulators in the United States and Europe have issues with the takeover - shareholders representing approximately 62 per cent of the outstanding common stock of Sun have voted to approve the deal, which calls for Oracle to shell out $9.50 per Sun share. Net of debts and cash on hand, that values Sun at $5.6bn based on the latest financial figures available for Sun. (This may wiggle a bit when Sun's fourth quarter of fiscal 2009 financial results are announced later in July or August).

Oracle has said in the past that it expects to close the acquisition by the end of summer and is working with regulatory agencies to answer questions regarding Java and other products where maintaining competition is an issue. No one seriously thinks that the US or European antitrust authorities will try to stop the deal, but they may ask for certain assurances from Oracle to maintain competition before giving the acquisition the nod.

Once Oracle is done eating Sun, it can move on to dessert and buy Red Hat. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.