Monday, June 19, 2006

Lexar Stockholders Approve Micron Merger

Stockholders of Lexar Media have approved the company's merger with Boise, Idaho-based Micron Technology, the companies said Friday. Lexar reported that more than 50% of the shares outstanding approved the merger, with 70% of the shares voting on the proposal. The two companies entered into a merger agreement on March 8. The approval of the merger came after Micron and Lexar agreed ealier this month to increase the offer to equal 0.5925 shares of Micron common stock for every share of Lexar common stock. Both Lexar and Micron manufacture NAND flash memory and other memory products.