RBC Capital Downgrades MICROS Systems (MCRS) to Sector Perform
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June 24, 2014 7:48 AM EDT
Wedbush downgraded MICROS Systems (NASDAQ: MCRS) from Outperform to Neutral with a price target of $68.00.
Analyst Gil Luria said, "Downgrading to NEUTRAL from OUTPERFORM after official announcement of acquisition by Oracle.... More
June 23, 2014 8:02 AM EDT
Oracle Corp. (NYSE: ORCL) announced that it has entered into a definitive agreement to acquire MICROS Systems, Inc. (NASDAQ: MCRS), a provider of integrated software and hardware solutions to the Hospitality and Retail industries, for $68.00 per share in cash. The transaction is valued at approximately $5.3 billion, or $4.6 billion net of MICROS' cash.
Cloud, mobile, social, big data and the internet of things are impacting every industry, encouraging companies to modernize in order to compete effectively. The addition of MICROS extends Oracle's offerings in industries by combining MICROS' industry specific applications... More
