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SigmaTel stockholders approve Freescale takeover

Posted: 23 Apr 2008 ?? ?Print Version ?Bookmark and Share

Keywords:acquisition? merger agreement? stockholder approval?

SigmaTel Inc. stockholders have voted to adopt the merger agreement providing for the acquisition of the company by Freescale Semiconductor Inc.

Approximately 97 percent of stockholders voting adopted the merger agreement. The number of shares voting to adopt the merger agreement represents approximately 54 percent of the total number of shares outstanding and entitled to vote.

The proposed merger, announced Feb. 4, is expected to close by the end of April, pending the satisfaction or waiver of all the closing conditions set forth in the merger agreement. Under the terms of the merger agreement, company stockholders will receive $3 per share in cash, without interest.

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