Wait, don't miss out on the latest GovCon industry news!

Sign Up Now! GovCon Wire provides you with Daily Updates and News Briefings

*By clicking "Join us now" you agree to receive email, promotions and general messages from GovCon Wire, In addition, you also agree to GovCon Wire Privacy Policy and Terms & Conditions.

X Remind me Later

Oracle Clears Waiting Period Under Antitrust Law for Cerner Acquisition

The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for the proposed acquisition of health information technology company Cerner (Nasdaq: CERN) by Oracle (NYSE: ORCL) expired Tuesday, Feb. 22.

Oracle agreed to acquire Cerner for approximately $28.3 billion through an all-cash tender offer in late December and both parties expect the tender offer to expire on March 16, Oracle said Wednesday.

The tender offer of $95 a share for Cerner stock was originally scheduled to expire on Feb. 15, but Oracle announced on Feb. 11 that it extended the offer’s expiration by a month.

The two companies may further extend the tender offer to provide more time to satisfy the remaining conditions, including clearances under foreign direct investment laws and foreign competition laws.

Video of the Day

GovCon Wire Logo

Sign Up Now! GovCon Wire provides you with Daily Updates and News Briefings about M&A Activity

Related Articles