JPMorgan Downgrades NetSuite (N) to Neutral
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Oracle Buys NetSuite
July 28, 2016 8:05 AM EDTREDWOOD SHORES, Calif., July 28, 2016 /PRNewswire/ --Â Oracle (NYSE: ORCL) today announced that it has entered into a definitive agreement to acquire NetSuite (NYSE: N), the very first cloud company. The transaction is valued at $109.00 per share in cash, or approximately $9.3 billion.
"Oracle and NetSuite cloud applications are complementary, and will coexist in the marketplace forever," said Mark Hurd, Chief Executive Officer, Oracle. "We intend to invest heavily in both products engineering and distribution."
"We expect this acquisition to be immediately... More
