Health

Oracle plans to close Cerner deal next week

Oracle has received antitrust clearances to acquire electronic health record company Cerner and plans to close the deal next week.

Austin, Texas-based Oracle said Wednesday that the US and the European Union have signed an acquisition agreement. The Company expects to complete the tender offer after it expires on Monday, June 6 at midnight Eastern Daylight Time.

The deal remains subject to closing terms, including an offer by Kansas City, Missouri-based Cerner shareholders of a majority of Cerner’s outstanding shares. Oracle extended the offer until June 6 in May, pushing back the deadline it extended to Cerner shareholders for the fourth time. As of May 9, approximately 10.1% of the issued shares were put up for auction.

In December, Oracle announced plans to acquire Cerner for approximately $28.3 billion in a tender offer at $95 per share.

Oracle representatives said the deal will immediately increase the company’s profits and shared plans to expand Cerner’s business into additional international markets.


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