Foundry Networks shareholders have approved a merger with Brocade Communications, overcoming what seems to be the last major hurdle in an exceedingly deal that had been questioned as stock and credit markets plunged.
Brocade declared in July it might purchase metalworks for regarding US$3 billion, a deal that might bring a aggressive vender of enterprise computer network gear into one in all the foremost suppliers of data-center network gear. In early Oct, as stock markets plummeted and credit tightened up, Brocade succeeded in obtaining a $1.1 billion term loan facility and $125 million consumer credit facility for the deal from a gaggle of banks. Continue reading “Foundry shareholders OK merger with Brocade”