Agere stockholders approve all-stock merger with LSI Logic valued at $4 billion

By Lisa Kerner

Charlotte, N.C., March 29 - Agere Systems Inc. said its shareholders approved a proposal related to the company's merger with LSI Logic Corp.

LSI Logic shareholders are meeting Thursday to vote on a merger-related proposal, according to a company news release.

Under the agreement announced on Dec. 4, Agere stockholders will receive 2.16 LSI shares for each share of Agere common stock.

The merger is slated to close on April 2.

Following completion of the all-stock transaction valued at $4 billion, the newly combined company will operate under the LSI Logic Corp. name.

LSI Logic is a Milpitas, Calif., silicon-to-systems services provider for digital information. Allentown, Pa.-based Agere Systems provides semiconductors and software products for storage, mobility and networking markets.

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