SigmaTel (SGTL) Stockholders Approve Merger with Freescale Semiconductor
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SigmaTel, Inc. (Nasdaq: SGTL) announced that the stockholders of the Company voted to adopt the merger agreement providing for the acquisition of the Company by Freescale Semiconductor, Inc. at a special meeting of the stockholders held today in Austin, Texas. Approximately 97% of stockholders voting adopted the merger agreement. The number of shares voting to adopt the merger agreement represents approximately 54% of the total number of shares outstanding and entitled to vote.
The proposed merger was announced on February 4, 2008 and is expected to close by the end of April 2008, pending the satisfaction or waiver of all the closing conditions set forth in the merger agreement. Under the terms of the merger agreement, Company stockholders will receive $3.00 per share in cash, without interest.[SM]
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