The S3 and Diamond Multimedia merger moved another step toward completion this morning when the two companies received notification of an early termination of the standard waiting period necessary before shareholders are allowed to vote, as mandated by the Hart-Scott-Rodino Antitrust Improvement Act.
This means that both companies can move ahead with plans to vote on the merger on September 20. To pass, 66 2/3 percent of Diamond shareholders and 75 percent of S3 shareholders must approve the proposed merger. If passed, the official merger would take effect immediately. Of course, both Diamond and S3 are confident that they'll have get more than enough votes.
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