Share holders of ATI Technologies approved the proposed acquisition by Advanced Micro Devices on Friday, moving the transaction one step closer to completion
Shareholders voted overwhelmingly to approve the acquisition of all outstanding common shares of ATI by an indirect, wholly-owned subsidiary of AMD. More than 99 per cent of the votes cast by shareholders were in favor of the transaction. No ATI shareholders have exercised rights of dissent in connection with the proposed acquisition.
ATI Technologies creates graphics processors, powering personal computers, Nintendo's Gamecube, as well as the Microsoft Xbox 360, among other systems.
ATI will seek final court approval for the arrangement at a hearing on October 17, 2006. The transaction is expected to be completed during the week of October 23, 2006.