Sun shareholders OK Oracle deal

Sun Microsystems Inc. (NASDAQ:JAVA) came one step closer to being absorbed by Oracle Corp. (NASDAQ:ORCL). The company reported Thursday that its shareholders owning 62% of the company's outstanding common stock have approved the $7.4 billion deal.

The transaction is still under the microscope of the the Justice Department, which last month made a second request for information on the deal. Oracle has said that despite the extended scrutiny, it expects the deal to close by the end of August.

Earlier this week, Sun gave preliminary fiscal fourth-quarter financials that were worse than expected. - Olaf de Senerpont Domis

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