As I previously reported, a special shareholders meeting was held this morning on the Santa Clara campus and I was front row for the action… or lack there of.
As expected, it was merely a formality. The meeting was no more than 10 minutes long and Jonathan Schwartz called in sick (literally). The meeting was officiated by Sun’s legal council. It was called to order, minutes read regarding the sending of proxy materials, then paper ballots were handed out to those who did not vote by proxy. Within 3 minutes the ballots had been collected. After about a 30 second pause another layer came forward and produced a prepared page from a folio, which the man running the meeting read and announced that the movement to approve the acquisition had been approved by a majority. The meeting was then adjourned.
As with so many great empires in the past, there was no great fanfare or spectacle, it simply happened and people shuffled out. I saw no executives present.
I was glad at least to have seen John Plocher and his wife, who were in attendance.
One final hurdle remains, it should be noted. The U.S. Justice Department has to approve the deal, but I don’t see any reason they wouldn’t do more than slow the closure of the deal down a bit, not stop it. Closure is expected by the end of August.
Why is it that I’m reminded of Ian McKellen as Gandalf muttering something about “so passes Sun, son of Scott”?
Tis, indeed, a sad day… let’s hope that good will come of it (and that it won’t be in the form of some more zeros on the end of bills).
RIP
Well, that’s it I guess.
Although I must say this is where it gets real interesting…
It is a sad day. Unfortunately, Sun management did such a poor job on the marketing and sales front. Not to mention controlling the budget. Ultimately, I think Oracle will do a better job. The Sun branding I think will be retained from my reading of the SEC filings. So Sun will continue as a “subsidiary of Oracle”. Better than it being gutted and shelved by IBM or HP. I of course would have liked Sun to continue on its own, but I think that would have taken a major coup by folks like Ben and I.. LOL!
Octave: Hah! I thought about yelling out “FREE SUN!” at the meeting, but I realized no one there would have cared.
At least you got to be present at a historic event. I’m glad for you.
If SGI could have been 1/2 as lucky…
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