Oracle to buy Australia's Aconex for $1.19 billion
They said in a statement its directors unanimously recommended the offerAustralia’s Aconex said on Monday it had received a A$1.56 billion ($1.2 billion), or A$7.80 in cash-per-share, buyout offer from US software major Oracle, sending the target’s share price up 45 per cent. Aconex founders Leigh Jasper and Rob Phillpot, who both have holdings of just over 5 per cent, declined interview requests on Monday. The company has experienced massive share price fluctuations since listing in 2014 at A$1.90, and peaking at just above A$8.50 last year. The share price rose 45 per cent immediately after trading resumed on Monday to just below the A$7.80 cash-per-share offer. Oracle said in a statement that the transaction was expected to close in the first half of 2018.
Source: The Express Tribune December 18, 2017 06:11 UTC
