Cypress Semiconductor Corp. and Spansion, Inc. yesterday announced that they have closed the merger of the two companies in an all-stock, tax-free transaction valued at approximately $5 billion. In a special meeting earlier today, Cypress shareholders approved the issuance of 2.457 shares of Cypress stock to Spansion shareholders for each Spansion share they own. Spansion shareholders approved the merger in a separate special meeting.
“We closed this merger even more quickly than originally anticipated, accelerating our strategic and financial roadmap”Cypress President and CEO T.J. Rodgers said.
Full Content: Yahoo! News
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