Adobe's Proposed Acquisition of Macromedia Clears U.S. Department of Justice Review
Press release from the issuing company
SAN JOSE, Calif.--Oct. 13, 2005-- Adobe Systems Incorporated and Macromedia, Inc. today announced they have received clearance from the U.S. Department of Justice (DOJ) for Adobe's proposed acquisition of Macromedia. The closing of the transaction remains subject to regulatory approval in a few European jurisdictions. The companies continue to anticipate the transaction will close sometime this Fall.
On April 18, 2005, Adobe announced a definitive agreement to acquire Macromedia in an all-stock transaction. Pursuant to the terms of the acquisition agreement, holders of Macromedia common stock will receive 1.38 shares of Adobe common stock for each share of Macromedia common stock they own at the closing of the acquisition. In August, the stockholders of each company voted in favor of the transaction.
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