Oracle said it completed its $28.4 billion acquisition of electronic health records company Cerner.
Oracle said that a majority of the outstanding shares of Cerner were validly tendered, and the other conditions to the tender offer have been satisfied or waived. The deal will close tomorrow, the company said in a press release.
American Stock Transfer & Trust has indicated that as of June 6 approximately 204,280,589 shares, or 69.2% of the total, have been validly tendered.
The transaction, announced in December, is Oracle’s largest acquisition ever and one of the largest takeovers this year.
With this deal, database giant Oracle is pushing deeper into the healthcare market, and the acquisition should help the company scale up its cloud business. Healthcare is a $3.8 trillion market in the U.S. alone, and the company plans to expand Cerner’s business into more international markets. Read more.
