ATI Shareholders Approve AMD Takeover

ATI Technologiesi shareholders have "voted overwhelmingly" to approve the companyis acquisition by Advanced Micro Devices (AMD), the firm said on Friday. More than 99% of the votes cast were in favor, ATI noted, and no shareholders exercised their right of dissent.

Final court approval is scheduled for an Oct. 17 hearing, with the transaction expected to be completed the week of Oct. 23. The deal, which involves US$4.2 billion in cash and 57 million shares of AMD common stock, was first announced back in July. As TMOis Jeff Gamet noted then, the combined company plans pursue the laptop and commercial computing markets next year. What that bodes for Apple is currently unclear, as the company uses ATIis graphics cards in its MacBook Pro and two of its iMac models, with NVIDIA and integrated Intel graphics employed in all of its other computer lines.