LSI, Agere set up shareholder meetings to vote on $4B merger
By Ann Steffora Mutschler -- EDN, January 26, 2007
Milpitas, Calif.-based LSI Logic Corp. today announced the date of a special meeting of its shareholders to approve the proposed merger between it and Agere Systems Inc., announced on December 4, 2006, under which the companies would be combined in an all-stock transaction with an equity value of approximately $4 billion, the closing of which is subject to the approval of shareholders from both companies as well as customary closing conditions and regulatory approvals.
The special meeting of LSI shareholders will take place on Thursday, March 29 at 10 a.m. Pacific Standard Time, at LSI corporate headquarters, 1621 Barber Lane, Milpitas, Calif.
At the special meeting, LSI shareholders will vote on a proposal to approve the issuance of new LSI shares in connection with the proposed merger.
LSI shareholders of record at the close of business on February 2, will be entitled to notice of, and to vote at, the LSI special meeting.
Allentown, Pa.-based Agere also announced today that Thursday, March 29 its 2007 annual meeting of stockholders will be held, at which time stockholders will vote on the merger.
Given the necessary approvals, Agere stockholders will receive 2.16 LSI shares for each share of Agere common stock.
