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Oracle may drop NetSuite takeover after low initial take-up

2016-10-10 09:00:00| Telecompaper Headlines

(Telecompaper) Oracle has extended its tender offer for NetSuite for another month after low initial take-up. Under the terms of the offer, Oracle must acquire a majority of NetSuite's shares not owned by the Oracle CEO Larry Ellison or his affiliates. At the initial expiry 06 October, the company had received only 11.2 percent of the unaffiliated shares. The offer was subsequently extend to 04 November.

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