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  • Friday, April 26, 2024

Oracle Closes Cerner Purchase

Austin, Texas-based software provider Oracle (NYSE: ORCL) announced that its acquisition of Cerner (Nasdaq: CERN) will close on Wednesday, June 8, after a majority of the Missouri-based health information technology maker’s outstanding shares were validly tendered.

American Stock Transfer & Trust Co., the depositary for the tender offer, noted that 69.2 percent of the total shares, or about 204,280,589 shares, were validly tendered at the end of Monday, June 6, Oracle said Tuesday.

On June 1, Oracle announced that it secured European Commission clearance and other antitrust approvals required for its proposed acquisition of Cerner.

In December, Oracle agreed to buy Cerner through an all-cash tender offer valued at approximately $28.3 billion, or $95.00 per share, to expand its presence in the health care IT market.

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