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Jazz and Tower receive stockholder go-ahead

19 September 2008 | By Síle Mc Mahon | News > Fab Management

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JazzThe takeover of Jazz Semiconductor by Tower Semiconductor has received approval from Jazz’s stockholders for the adoption of the Agreement and Plan of Merger and Reorganization. Tower will now acquire all of the outstanding Jazz shares in a stock-for-stock agreement.

66.1% of Jazz’s outstanding shares of common stock voted in favour of the merger agreement, exceeding the majority vote required for the agreement to go ahead, while less than 1% of Jazz’s outstanding shares of common stock voted against approval of the merger agreement.

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