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AMD misses Vote for Splitting Assets

Needed 50%+ got only 42%

| Posted: Feb 11, 2009 6:25 pm

Well the crucial vote happened yesterday for AMD's planned spinoff but due to bad timing and slow release of information on AMD's part they were not able to get the greater than 50% needed to go ahead.

 

The information detailing the split was not set out to stockholders until the end of January; this gave very little time to look over the 400 page document.

 

AMD's website was also not very informative on the move and still seems to have information from 2007 on it.

 

In the end the 42% that did vote were in favor of the move (97% voted in favor). AMD now has to wait until February 18th for a new vote.
Hopefully it will get the required number and The Foundry Company will be born.

 

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