SAN FRANCISCO (Reuters) - Sun Microsystems Inc on Wednesday said it had completed the US$4.1 billion purchase of Storage Technology Corp after shareholders approved the acquisition on Monday.
StorageTek shareholders will receive US$37 per share in cash for each StorageTek share they own.
The purchase price includes the assumption of employee stock options, Sun Microsystems said in a statement. StorageTek's former chief executive, Pat Martin, will not join the combined company, Sun Microsystems said.
Sun Microsystems completes StorageTek purchase
By
Staff Writers
on Sep 1, 2005 2:30PM
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