Tuesday, April 22, 2008

SigmaTel Stockholders OK Freescale Merger

Fabless semiconductor manufacturer SigmaTel Inc. announced Monday that its stockholders have voted for adopting embedded chip producer Freescale Semiconductor Inc.'s $110 million buyout. SigmaTel said some 97 percent of those who voted approved the merger agreement, which Freescale originally reported on Feb. 4. SigmaTel noted that about 54 percent of its shareholders voted. The $110 million figure translates to $3.00 per share of common stock. SigmaTel added that the merger should close later this month. SigmaTel and Freescale are both headquartered in Austin, Texas.