It's a done deal and NetSuite vanishes as a publicly traded company. Oracle offered $109 per share in cash for NetSuite, about $9.3 billion. However, early in September, T. Rowe Price said it would not tender its 14.5 million shares, which represented a huge chunk of the 20,403,928 unaffiliated shares. Price said it would take $133 per share. But it's getting $109. So Larry Ellison's Oracle takes over Larry Ellison's NetSuite. About the only thing missing from the hard stance Oracle took was a statement "Resistance is futile."
Estimated reading time: 0 minutes, 42 seconds
ORACLE WINS NETSUITE OFFER Featured
After sparring with investment firm T. Rowe Price for a couple of months, Oracle has won its bid to take over NetSuite. After extending its tender offer third time, Oracle said the November 4 deadline would be the last. The parties said this week that the bidder, which needed a majority of unaffiliated shares, had 53.21 percent of that class of shares tendered.
Most Read
-
-
May 22 2017
-
Written by mark
The last year has been one of change—the cloud has…
-
-
-
May 22 2017
-
Written by BobWScott
The last year has been one of change—the cloud has…
-
-
-
May 19 2021
-
Written by BobWScott
Just what kind of year has it been for the…
-
-
-
May 25 2016
-
Written by mark
Annual Report: 2016 BSI Top 100 VARs The web has…
-