Oracle to Begin 2nd Tender Offer Period for Remaining MICROS Shares

acquisitionA subsidiary of Oracle (NASDAQ: ORCL) will begin a second tender offer period for shares of MICROS Systems (NASDAQ: MCRS) following the completion of the initial tender offer on Tuesday.

Oracle said Wednesday that its Rocket Acquisition arm has tendered around 82.8 percent of the MICROS outstanding shares,  with the remaining shares expected to be acquired in the new offering period.

Oracle plans to complete its buy of MICROS after the completion of the second tender offer by the end of the day on Friday, with any potential remaining shares to be converted to $68 per share of common stock.

MICROS shareholders will receive the offer price for their shares before the close of the merger,  after which MICROS will be an Oracle subsidiary and its common stock removed from the NASDAQ listing.

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