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Monday, December 13, 1999 < Prev Next >

Visio Shareholders Vote In Favor Of Microsoft Deal

SEATTLE - Visio, which makes business diagramming and technical software, said its shareholders approved its merger agreement with Microsoft at a special shareholders' meeting today.

The stock-swap deal, announced Sept. 15, is valued at about $1.3 billion.

"We are pleased that our shareholders recognize the value of this business combination. We remain optimistic that the transaction will close in January 2000 pending completion of regulatory review by the U.S. Department of Justice and the satisfaction of other customary closing conditions," said Jeremy Jaech, chairman of Seattle-based Visio.

The Justice Department in late October asked Visio and Microsoft to provide additional information about the acquisition.

The Seattle Times

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