Brocade and McData to merge

 

Stockholders vote in favour.

Storage giants Brocade Communications and McData have announced that the stockholders of each company have approved Brocade's proposed acquisition of McData at their respective special stockholder meetings.

Of the approximately 68.53 percent of outstanding Brocade shares that were voted, approximately 98.50 percent were cast in favour of the issuance of Brocade common stock in connection with the proposed acquisition.

Of the approximately 71.23 percent of outstanding McData Class A and B shares that were voted, approximately 98.86 percent were cast in favour of the deal.

Under the terms of the acquisition agreement, each share of McData Class A and B common stock will be exchanged for 0.75 shares of Brocade common stock.

The acquisition is expected to close on 29 January, the companies said.

Copyright ©v3.co.uk


Brocade and McData to merge
 
 
 
Top Stories
Inside the stalemate on Australia's piracy code
Still not registered almost five months on.
 
IT staff outline deep anger in Macquarie Uni survey
‘Morale at lowest point in a decade’.
 
Cost blowout to push NBN past $41bn budget
But government funding cap to remain.
 
 
Sign up to receive iTnews email bulletins
   FOLLOW US...
Latest Comments
Polls
New Windows 10 users, are you upgrading from...




   |   View results
Windows 8
  47%
 
Windows 7
  44%
 
Windows XP
  5%
 
Another operating system
  3%
 
Windows Vista
  2%
TOTAL VOTES: 702

Vote