Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for Saifun Semiconductors Ltd. > News item |
Saifun shareholders say 'yes' to Spansion merger
By Lisa Kerner
Charlotte, N.C., Dec. 20 - Saifun Semiconductors Ltd. shareholders approved the company's acquisition by Spansion Inc. at a special meeting on Thursday.
A total of 23.9 million ordinary shares, or about 76% of the total outstanding shares, were represented at the meeting. More than 96% of the shares represented voted in favor of the deal, according to a company news release.
Under the companies' amended agreement, Saifun shareholders will receive 0.7429 of a share of Spansion common stock and about $6.05 in cash for each share of Saifun common stock.
The merger is slated to close in the first quarter of 2008 pending Israeli court approval and customary closing conditions.
Spansion is based in Sunnyvale, Calif., and makes flash memory products.
Saifun is a Netanya, Israel-based provider of intellectual property solutions for the non-volatile memory market.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.