Investors accepted the proposed merger of Sega and Sammy at a general stockholders meeting today.
The next step in the developing story of the merger between Sega and Sammy, Sega's shareholders today approved of the pending merger in October. With Sammy's shareholders doing the same just last Friday, it appears that all is set for the two to join forces and become Sega Sammy Holdings.
The merger amounts to a buyout for Sammy stockholders since they will swap their current stock for an equal number of shares in the new company, while Sega stockholders will only receive 28% of what they currently hold.
All of Sega's independent teams, including Amusement Vision, Sonic Team, Smilebit, etc., will re-integrate with Sega before the October merger takes place. Sega and Sammy will intially continue to act as separate operations, but by 2007, the two companies will have completely consolidated. However, each brand name will continue to be used in its traditional markets.
