3dfx and STB Merger Delayed

3dfx and STB Merger Delayed is the latest item crossing the POCG news desk. Graphics chip maker 3dfx Interactive and STB Systems said special meetings of shareholders called to approve their merger have been adjourned to solicit additional votes for approval of the deal.

3Dfx agreed to buy STB Systems, which makes graphics controller boards, in a stock deal valued at about $141 million. The STB Systems meeting has been adjourned until May 5, and the 3dfx meeting has been adjourned until May 12. The approval requires a vote of 50 percent of the outstanding shares of 3dfx and 66 2/3 percent of the outstanding shares of STB. The companies said in a joint statement that they expect to press forward with their plans to integrate their businesses and do not believe that this postponement will have any material operational or financial impact.