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ORCL

Oracle

$38.72

-0.28 (-0.72%)

, N

NetSuite

$109.29

-0.25 (-0.23%)

08:02
10/07/16
10/07
08:02
10/07/16
08:02

Oracle announces final extension of tender offer for NetSuite to expire Nov. 4

Oracle (ORCL) announced that it has extended the expiration of its tender offer for the acquisition of NetSuite (N) to Friday, November 4. This will be the final extension that Oracle is obligated to make under the merger agreement. In the event that a majority of NetSuite's unaffiliated shareholders do not tender sufficient shares to reach the minimum tender condition, Oracle will respect the will of NetSuite's unaffiliated shareholders and terminate its proposed acquisition. Napa Acquisition Corporation, a subsidiary of OC Acquisition LLC, a subsidiary of Oracle, has extended its all-cash tender offer for $109.00 per share for all of the issued and outstanding shares of common stock, par value of $0.01 per share of NetSuite to 12:00 Midnight, Eastern time, at the end of Friday, November 4, 2016. Per the terms of the merger agreement, a majority of the unaffiliated Shares, or 20,403,928 out of 40,807,854 total unaffiliated Shares, must be tendered in order for the minimum condition to be satisfied and the tender offer to be completed. In aggregate, there are approximately 81,474,150 Shares issued and outstanding as of October 5, 2016.

ORCL

Oracle

$38.72

-0.28 (-0.72%)

N

NetSuite

$109.29

-0.25 (-0.23%)

ORCL Oracle
$38.72

-0.28 (-0.72%)

09/16/16
RHCO
09/16/16
NO CHANGE
RHCO
Oracle reported 'strong cloud results,' says SunTrust
SunTrust analyst John Rizzuto says that Oracle reported "strong cloud results." The analyst thinks that the company's cloud business is gaining "market and mind share." He predicts that the company's combined cloud and on-premises software revenue will rise 5% in fiscal 2017, up from a 2% decline in fiscal 2016. He keeps a $48 price target and Buy rating on the stock.
09/16/16
ADAM
09/16/16
NO CHANGE
Target $45
ADAM
Buy
Oracle shares cheap, cloud results positive, says Canaccord
Canaccord analyst Richard Davis said Oracle reported solid organic growth for its cloud business, including software licenses and cloud SaaS and PaaS. The analyst believes continued cloud success will weigh on margins and the decline in Hardware revenues will weigh on the overall businesses. However, Davis said Oracle shares remain sufficiently inexpensive to maintain as a Buy with a $45 price target.
09/16/16
BERN
09/16/16
NO CHANGE
BERN
Oracle miss due to 'transitory issues,' says Bernstein
After Oracle reported weaker than expected Q1 results, Bernstein analyst Mark Moerdler blames the miss on "transitory" factors, including foreign exchange headwinds and increased borrowing costs, as well as weakness in businesses on which the company is "less concerned with." The analyst says that the company's cloud business exceeded expectations, and he notes that its overall software revenue increased last quarter. He keeps an Outperform rating on the shares.
09/23/16
STFL
09/23/16
NO CHANGE
STFL
Oracle removed from Select List at Stifel
After attending Oracle's Analyst Day, Stifel analyst Brad Reback says that the company's infrastructure as a service portfolio "is still quite nascent." The analyst thinks that the company will have to significantly raise its overall capex in order to catch up with the leaders in the space. The analyst trimmed his price target on the stock to $45 from $48 and removed the stock from his Select List. However, he keeps a Buy rating on the shares.
N NetSuite
$109.29

-0.25 (-0.23%)

07/29/16
RAJA
07/29/16
UPGRADE
RAJA
Market Perform
NetSuite upgraded to Market Perform from Underperform at Raymond James
07/29/16
COWN
07/29/16
UPGRADE
Target $109
COWN
Market Perform
NetSuite upgraded to Market Perform from Underperform at Cowen
Cowen upgraded NetSuite (N) to Market Perform from Underperform following the proposed acquisition by Oracle (ORCL) for $109 per share.
08/02/16
MKMP
08/02/16
DOWNGRADE
MKMP
Neutral
NetSuite downgraded to Neutral from Buy at MKM Partners
MKM Partners downgraded NetSuite (N) following the proposed acquisition by Oracle (ORCL) for $109 per share.
09/13/16
JMPS
09/13/16
NO CHANGE
JMPS
NetSuite takeover price likely to increase, says JMP Securities
JMP Securities analyst Patrick Walravens believes that Oracle's (ORCL) $109 takeover offer for NetSuite (N) will probably increase, partly because a majority of shares owned by those who are not insiders must vote to approve the transaction. The analyst notes that T. Rowe Price (TROW), which controls 18% of such shares, opposes the deal at the current price. Walravens adds that NetSuite appears to have failed to "canvas the market," as required by Delaware law. He raised his price target on NetSuite to $121 from $100 and keeps an Outperform rating on the stock.

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