Portal Software shareholders believe unfair about the acquisition offer from Oracle.
Oracle announced that it would extend its $220 million offer for Portal. Oracle made the new deadline for shareholders to submit their tenders till June 20 at 12:00 a.m. Eastern Standard Time. The date of previous tender was already extended from May 22 to June 6.
Approximately 50 percent or 23.2 million of Portal Software shares had been tendered to oracle at that time. Now 90 per cent shareholder can submit their tenders successfully.
According to Oracle’s officials, approximately 53 percent or 23.2 million shares have already submitted till June 7.
To proceed with the deal Oracle needs 24.675 million shares. Oracle announced that its intention to buy Portal Software, which develops billing and revenue management software for the communications industry.
Via: eweek
Oracle extends the $220 million tender offer for Portal Software
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