Oracle expects $28.3B Cerner acquisition to close later this month

The Oracle logo on an office building in Irvine, California. (REUTERS / Mike Blake)

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Oracle’s $28.3 billion acquisition of medical records company Cerner has obtained all necessary regulatory approvals, and the company expects the transaction to close later this month.

In a statement Wednesday, the company said the deal had been cleared by antitrust authorities, including the European Commission, and that it anticipates the deal will complete after the expiration of its prior tender offer at midnight, eastern time, on June 6.

According to Oracle, completion of the transaction is subject to conditions described in a tender offer previously filed with the U.S. Securities and Exchange Commission, which has subsequently been amended.

Oracle has extended the terms of its bid to acquire the company on several occasions to give extra time for antitrust authorities to examine the deal.

In April, the company extended the terms of its prior $95 per share offer for the company for a third time. This followed two initial extensions of the offer terms.

Oracle Chairman and Chief Technology Officer Larry Ellison will discuss acquisition at an online event on June 9. Details of the event can be found here.

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Cerner, Electronic Health Record Modernization (EHRM), Oracle
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