LSI Shareholders Approve Acquisition By Avago Technologies

(RTTNews) - LSI Corp. (LSI) said Wednesday that its shareholders have approved the company's proposed merger with Avago Technologies Ltd. (AVGO).

In December, Singapore-based chip maker Avago Technologies agreed to buy LSI in an all-cash deal valued at $6.6 billion.

Upon the closing of the merger, LSI shareholders will be entitled to receive $11.15 per share in cash, without interest, less any required tax withholding.

Completion of the merger is subject to remaining regulatory approvals in various jurisdictions and customary closing conditions. LSI expects the merger to close in the first half of 2014.