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Technology / AI and automation

SILICON GRAPHICS AND MIPS SHAREHOLDERS APPROVE THE TAKEOVER

Shareholders of both Silicon Graphics Inc and MIPS Computer Systems Inc have approved the acquisition of the former by the latter with a share exchange ratio of 0.52 Silicon for each MIPS held: Silicon Graphics also announced the offering of 3.6m shares of common stock at a price of $17.125 per share through a combination of direct sales and a public sale through Morgan Stanley & Co Inc and Unterberg Harris; as announced, about 1.7m shares were bought by 11 of Silicon Graphics’ international technology partners – Control Data Corp, Daikin Industries Ltd, Integrated Device Technology Inc, LSI Logic Corp, NEC Corp, NKK Corp, Sumisho Electronics Co Ltd, Sumitomo Corp, Tandem Computers Inc, Tata Enterprises Overseas and Toshiba America Electronic Components Inc; the acquisition is expected to become effective on Monday June 29.

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CBR Staff Writer

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