Aconex takeover greenlit by US tech giant Oracle

Company News

by Rachael Jones

The Foreign Investment review board has green lighted the US tech giant, Oracle Corporation’s (NYSE:ORL) proposed takeover of Aconex (ASX:ACX).

The Australian Government has no objections in terms of the construction software company being taken over by the global database platform Oracle (NYSE:ORL) via a scheme of arrangement.

This was final government clearance needed for the merger to go ahead. However it’s now over to Aconex shareholders to vote at a meeting on 14 March 2018 and Supreme Court approval, among other conditions.

The $1.6 billion takeover values Aconex shares are $7.80 per share.

Shares in Aconex are trading 0.1 per cent higher to $7.76.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.