Oracle Says NetSuite Acquisition Will Close Monday

(RTTNews) - Oracle Corp (ORCL) announced Saturday that a majority of the unaffiliated shares of NetSuite Inc. (NYSE: N) were validly tendered and the other conditions to the tender offer have been satisfied. The acquisition of NetSuite will be consummated by Oracle on Monday, November 7, 2016.

Oracle specified that approximately 21.78 million unaffiliated NetSuite Shares, or 53.21% Shares agreed to tender their shares by a Friday deadline.

The tendered shares do not include more than 1 million separate shares tendered pursuant to the guaranteed delivery procedures set forth in the offer to purchase, the company said.

In July, Oracle agreed to acquire NetSuite in a deal valued at $109.00 per share in cash, or approximately $9.3 billion.