Getting your player ready...
Brussels, Belgium – Today the European Union cleared computer server maker Sun Microsystems Inc.’s $4.1 billion acquisition of Storage Technology Corp., known as StorageTek.
The EU head office’s review of the deal showed the overlaps between the companies “are limited and that the combined entity would continue to face several strong competitors with significant market shares.” StorageTek is an information storage company based in Louisville, Colo.
Sun, based in Santa Clara, Calif., expects to complete the acquisition by late summer or early fall. StorageTek shareholders are scheduled to vote on the proposal at an Aug. 30 meeting.
