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