Oracle said with this approval, the tender offer for Cerner should be completed following the expiration of its tender offer at midnight Eastern time on June 6, according to a June 1 press release.
Larry Ellison, chief technology officer and chairman at Oracle, will discuss the acquisition and Oracle’s new suite of cloud-based health management applications at an online event on June 9.
The all-cash deal, which was announced on Dec. 20, values Cerner at $95 a share or about $28.5 billion in equity value.
“Cerner has been a leader in helping digitize medical care, and now it’s time to realize the real promise of that work with the care delivery tools that get information to the right caregivers at the right time,” said David Feinberg, CEO and president of Cerner. “Joining Oracle as a dedicated Industry Business Unit provides an unprecedented opportunity to accelerate our work modernizing electronic health records, improving the caregiver experience, and enabling more connected, high-quality and efficient patient care.”
The transaction is Oracle’s largest acquisition to date.
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