June 19, 2006 – Lexar Media, Inc. announced the approval of an amendment to its merger contract with Micron Technology on Friday. In a vote of more than 70% of shareholders and over 50% of shares outstanding, stockholders adopted a revised Registration Statement on Form S-4 to the Lexar-Micron stock-for-stock merger.
As voted on earlier this month, the exchange ratio of the company giants increased. “Each outstanding share of Lexar common stock would receive in the merger to 0.5925 shares of Micron common stock from 0.5625 shares of Micron common stock,” according to a Micron press release.
Lexar is a leading manufacturer of flash memory, including compact memory cards and USB drives. The acquisition is valued at $945 million, according to tgdaily.com.
