Oracle Expected To Announce Purchase Of Cerner Today Around This Price Level

Oracle Corporation (NYSE:ORCL) is expected to announce the acquisition of Cerner Corporation (NASDAQ:CERN) on Monday, as per CNBC journalist David Faber.

What Happened: Faber said on Twitter Sunday that the Larry Ellison co-founded database management giant is expected to announce the all-cash deal Monday morning. 

Oracle expected to announce acquisition of Cerner tomorrow morning in all cash deal for "mid 90's" per share, according to sources. $ORCL, $CERN WSJ reported talks late last week.

— David Faber (@davidfaber) December 20, 2021

The journalist said, citing unnamed sources, that Oracle’s acquisition price is likely to be in “mid 90s” per share. 

Cerner shares closed 12.93% higher at $89.77 in Friday’s regular session and rose 0.37% to $90.10 in the after-hours trading.

Why It Matters: The acquisition of Cerner, a medical-records company, marks Oracle’s push into healthcare, as per an earlier report. 

Cerner is headed by David Feinberg, a former executive at Google, an Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG) subsidiary. It generated $5.51 billion in revenue in 2020.

Earlier in the month, Oracle shares soared after it reported second-quarter earnings per share of $1.21 beating an estimate of $1.11.

Price Action: On Friday, Oracle shares closed nearly 6.4% lower at $96.62 and rose 0.6% in the after-hours session.

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