p2pnet.net News:- Another high-profile Canadian company is going south.

Investors in Canada’s ATI Technologies have voted 99.7% for a $5.6 billion takeover by AMD (Advanced Micro Devices), based in the US.

“The companies also announced Investment Canada has approved the takeover,” says The Toronto Star, going on, “ATI’s meeting was not attended by co-founder and former CEO K.Y. Ho, who stepped down as chairman last November shortly after being cleared of insider trading allegations.

AMD and ATI announced plans to merge back in July, which was pending government and shareholder approval, says DailyTech, adding:

“The Canadian Goverment gave the merger a passing grade through its anti-trust laws and regulations early September.

“ATI will seek final court approval for the arrangement at a hearing on October 17, 2006. The transaction is expected to be completed during the week of October 23, 2006.”

Also See:
The Toronto Star – Music sales weaken in first half, October 14, 2006
DailyTech – ATI Shareholders Approve Acquisition by AMD, October 13, 2006

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