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Sun shareholders approve Oracle acquisition

On the 16th the majority of Sun’s shareholders voted to allow Oracle to buy the company

Sun logoSun Microsystems, Inc. announced that at a special meeting of stockholders held on July 16, 2009, its stockholders adopted the merger agreement entered into with Oracle Corporation, 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 deal values the company at $9.50 a share; Sun closed out the trading day on Friday at $9.17. The deal has yet to get the nod from regulators, but no trouble is expected on that front according to the majority of other reports.

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