Storagetek Shareholders Approve Acquisition By Sun

Storage Technology today said its stockholders approved the acquisition of the data storage equipment maker by network computer maker Sun Microsystems. Under the terms of the agreement, StorageTek will become a wholly owned subsidiary of Sun, which agreed to buy StorageTek, as it is commonly known, for $37 per share in cash. StorageTek and Sun Microsystems expect to complete the acquisition Wednesday, at which time trading in StorageTek common stock will be suspended.