Sun Microsystems announced Thursday that the stockholders at its special meeting voted in favor of the merger agreement with Oracle.
Investors holding approximately 62 percent of all shares of Sun common stock voted yes to the deal under which Oracle will acquire Sun for $9.50 a share in cash, a total of $7.4 billion, or $5.6 billion net of Sun's cash and debt.
The acquisition still faces antitrust scrutiny by the U.S. Department of Justice over one sticking point on Java licensing. But Oracle is confident the merger will be completed by the end of the summer.
The global downturn has been hard on Sun, which is expecting lower sales and a net loss for its fiscal fourth quarter.