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.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button