Aconex removed from S&P/ASX200

Company News

by Rachael Jones

S&P indices announced today that it will remove Aconex (ASX:ACX) from the S&P/ASX200 subject to shareholder and final court approval of the proposed takeover by the Oracle Corporation (NYSE:ORCL). This will come into effect from March 16 2018.

The Foreign Investment review board green lit the take over by the US tech giant last week. The Australian Government had no objections via a scheme of arrangement.

Aconex shareholders will vote at a meeting on 14 March 2018.

The construction software company has seen revenue increase since the news of the $1.6 billion takeover.

Shares in Aconex closed flat at $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.