Friday marks the deadline for Oracle Corporation (NYSE: ORCL)'s final extension of its tender offer for NetSuite Inc (NYSE: N). While many on the street have had their doubts that a deal will be made at this point, anything can still happen.
Should a deal go through, MKM Partners analyst Kevin Buttigieg in a research note Thursday highlighted three stocks that might be affected.
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- The Ultimate Software Group, Inc. (NASDAQ: ULTI): The Oracle-NetSuite deal has been viewed as a huge disruptor to Ultimate Software's partnership with NetSuite (the two have had a cloud-service strategic partnership since March 2015), which NetSuite might have little need for after tieing up with Oracle.
- ServiceNow Inc (NYSE: NOW): This cloud-based solutions provider has been the subject of takeover speculation, including rumors of interest from salesforce.com, inc. (NYSE: CRM). If the Oracle-NetSuite deal happens, Oracle becomes one fewer possible suitor.
- Splunk Inc (NASDAQ: SPLK): This well-liked member of the software group is another potential takeout target that would see one less potential acquirer if Oracle's bid for NetSuite is accepted. In a research note from September, BMO analysts Keith Bachman said long term, he believes "Splunk would make an attractive candidate for a larger company that can add scale."
An hour before Thursday's close, NetSuite shares were up 6.2 percent at $94.71, after trade was briefly halted due to volatility that saw the stock price spike to $94.60 on high volume.
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