The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for the proposed acquisition of health information technology company Cerner (Nasdaq: CERN) by Oracle (NYSE: ORCL) expired Tuesday, Feb. 22.
Oracle agreed to acquire Cerner for approximately $28.3 billion through an all-cash tender offer in late December and both parties expect the tender offer to expire on March 16, Oracle said Wednesday.
The tender offer of $95 a share for Cerner stock was originally scheduled to expire on Feb. 15, but Oracle announced on Feb. 11 that it extended the offer’s expiration by a month.
The two companies may further extend the tender offer to provide more time to satisfy the remaining conditions, including clearances under foreign direct investment laws and foreign competition laws.
