News

Dow Jones Newswires: Oracle again extends Cerner tender offer

Oracle Corp. again extended its tender offer for Cerner Corp. shares and said about 11.5% of outstanding shares were tendered as of midnight at the end of the day Friday.

The offer was extended to May 11 from April 13, marking the third extension from an original February deadline. On March 15, Oracle said recent figures at that time indicated 10.1% of outstanding shares were tendered.

Oracle
ORCL,
-1.46%

announced the roughly $28.3 billion deal for medical records company Cerner
CERN,
-0.32%

in December. Closing is subject to conditions including Cerner stockholders tendering a majority of outstanding shares.

Cerner previously said in a securities filing that the cash tender offer structure could help “reduce the amount of time in which Cerner’s business would be subject to the potential uncertainty of closing and related disruption.”

Cerner shares were up 0.2% to $93.32 after hours, compared with the $95 deal price.

What's your reaction?

Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0

You may also like

More in:News

Leave a reply

Your email address will not be published.