RALEIGH - Red Hat investors gave their blessing Wednesday to the $34 billion merger agreement between the Raleigh-based company and IBM.
Of the more than 176 million outstanding shares of Red Hat, around 141 million voted in favor of the merger and only 181,848 voted against it during a meeting at its office tower in downtown Raleigh.
More shares — 462,497 — abstained from the vote than voted against the agreement with IBM.
The merger had already been approved by the board of Red Hat.
It is subject to regulatory approvals and other customary closing conditions and is expected to close in the latter half of 2019.
In October, Red Hat announced that tech giant IBM would buy the software company for $190 per share — a figure that represented around a 60 percent premium for Red Hat shares at the time of the announcement.