BOSTON - Sun Microsystems Inc shareholders approved the computer maker's $7 billion sale to Oracle Corp as the two await antitrust clearance from U.S. and EU regulators before they can close the deal.
The acquisition will transform the world's No. 3 software maker into a diversified technology company that sells Sun's computers, data storage equipment and Solaris operating system alongside Oracle's Linux operating system, database software and business management programs. Oracle also gains control of Sun's Java software, one of the world's most widely used programming languages.
Santa Clara, California-based Sun said on Thursday that a majority of its shareholders had approved Oracle's $9.50 per share offer for the company. Approval was widely expected.
Sun shares fell 4 cents, or 0.4 percent, to $9.17, while Oracle shares dropped 6 cents, or 0.3 percent, to $21.45.
Officials with Oracle have said they expect to receive regulatory approval in the United States and Europe in time to close the acquisition by the end of August.
A spokeswoman for Redwood City, California-based Oracle declined to discuss progress of those reviews on Thursday.
Oracle agreed to buy Sun in April after the collapse of weeks of talks between the struggling hardware and software maker and International Business Machines Corp.
(Reporting by Jim Finkle, editing by Matthew Lewis)