IBM-Red Hat "Merger" Update
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Red Hat sets date for stockholders to vote on IBM merger
Open source solutions provider Red Hat has set a special meeting on 16 January for stockholders to consider and vote on IBM's proposed acquisition of the company.
On 28 October, IBM and Red hat announced an agreement and plan of merger which would see IBM acquire Red Hat for $190.00 per share in an all-cash transaction.
"The board of directors of Red Hat recommends that stockholders vote in favour of the merger with IBM," the company said in a statement on 11 December.
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IBM exec: Why buying Red Hat is better than partnership
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