Merger of US flash memory giants get shareholders nod

US firm Lexar Media shareholders approved the flash memory card maker's acquisition by Micron Technology in a sweetened, all-stock deal valued at about $801 million, an Associated Press report said.

The report said the approval cleared the way for a merger that could strengthen memory-chip maker Micron, as it gains Lexar's consumer products business and patent portfolio.

Investors representing more than 50% of Lexar shares approved the deal, according to Lexar spokesman Michael Scarpelli.

The outcome would likely stay the same after a certification process, he said.

Flash memory is the storage component commonly found in digital cameras, music players, keychain storage devices and a variety of other electronics.

Reports said industry sales worldwide were expected to reach $13.5 billion this year, up from $10.6 billion in 2005.