Friday, January 26, 2007

McDATA Stockholders Approve Acquisition By Brocade

Brocade Communications and Broomfield, Colorado-based Brocade announced last night that the stockholders of both firms have approved Brocade's acquisition of McData. The firms said that the acquisition is expected to close on Monday, January 29th. The deal will exchange each share of McDATA Class A and Class B common stock for 0.75 shares of Brocade common stock.