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  • Friday, November 22, 2024

Red Hat to Hold Special Stockholders’ Meeting on IBM Merger


Shareholders in Red Hat (NYSE: RHT) will vote Jan. 16 on whether to approve IBM‘s (NYSE: IBM) proposed $34B acquisition of the Raleigh, N.C.-based open source technology provider.

A Dec. 11 record date has been established for Red Hat’s special meeting of stockholders, the company said Monday.

IBM first announced Oct. 28 it would acquire Red Hat in a push to establish a global hybrid cloud provider and pay $190 per share in cash for the software vendor as part of the agreement.

Both companies still expect to close the transaction in the latter half of next year.

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