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.
Brocade and McData to merge
Got a news tip for our journalists? Share it with us anonymously here.
Add techpartner.news as your trusted source
Partner Content
AI PCs shift from hype to revenue opportunity for partners
MSPs have spent a decade telling clients to consolidate. Few take their own advice.
Now is the time for the channel to push the hardware refresh
.jpg&h=142&w=230&c=1&s=1)
Gamma invests to make Australian expansion a success
Promoted Content
Kris Manché, Panel Expert at Index Brisbane
.jpg&h=237&w=349&c=1&s=1)
