A vote of Advanced Micro Devices shareholders to authorize investment from the Abu Dhabi government controlled Mubadala Development Company was pushed until Wednesday, Feb. 18, as there were not sufficient shares present for a quorum.
The meeting took place in Austin, Texas, at 11 a.m. eastern time, at which time only 41.7 percent of the company's shareholders were present or accounted for.
According to AMD spokesman Travis Bullard, 97 percent of the votes that were cast favored the transaction.
Mubadala is seeking to buy 58 million shares of AMD stock, with warrants to acquire 35 million more. The vote would have cleared the way for the formation of AMD's manufacturing spinoff, the Foundry Company, who will build and run a $4.6 billion chip fab in Malta at the Luther Forest Technology Campus.
The investor already owns eight percent of AMD after a November 2007 deal provided the cash-strapped chipmaker with $622 million.
The Feb. 18 meeting will also take place in Austin.
\At that meeting we will work to make sure that we have a quorum of the voters and continue to move forward and have shareholder approval, said AMD's Harry Wolin, who chaired today's special meeting. ""