AMD-ATI merger approved by ATI shareholders
ATI's shareholder meeting regarding the AMD acquisition is over, and the ATI shareholders have voted "overwhelmingly" in favor of the merger.
MARKHAM, Ontario - October 13, 2006 - ATI Technologies Inc. (TSX: ATY, NASDAQ: ATYT) shareholders voted overwhelmingly today to approve the proposed acquisition of all outstanding common shares of ATI by an indirect, wholly-owned subsidiary of Advanced Micro Devices, Inc. (AMD). More than 99 per cent of the votes cast by shareholders were in favor of the transaction. No ATI shareholders have exercised rights of dissent in connection with the proposed acquisition.
ATI says it will seek final court approval for the arrangement plans on October 17, and that the transaction is still expected to be completed during the week of October 23.