On Tuesday, Shares of Oracle Corporation (NYSE:ORCL), subtract -1.58% and closed at $38.01 in the last trading session. The last trading range of the stock ranges between $37.81 and $38.65. The company’s Market capitalization is $155.69 Billion with the total Outstanding Shares of 4.11 billion. During the 52-week trading session the minimum price at which share price traded, registered at $33.13 and reached to max level of $42.00. Oracle Corporation (ORCL) declared recently that it has extended the expiration of its tender offer for the acquisition of NetSuite Inc. (NYSE:N) to Friday, November 4, 2016. This will be the final extension that Oracle is obligated to make under the merger agreement. In the event that a majority of NetSuite’s unassociated shareholders do not tender sufficient shares to reach the minimum tender condition, Oracle will respect the will of NetSuite’s unassociated shareholders and terminate its projected acquisition.
Napa Acquisition Corporation, a partner of OC Acquisition LLC, a partner of Oracle Corporation, has extended its all-cash tender offer for $109.00 per share for all of the issued and outstanding shares of common stock, par value of $0.01 per share (the “Shares”), of NetSuite Inc. to 12:00 Midnight, Eastern time, at the end of Friday, November 4, 2016. Per the terms of the merger agreement, a majority of the unassociated Shares, or 20,403,928 out of 40,807,854 total unassociated Shares, must be tendered in order for the minimum condition to be satisfied and the tender offer to be accomplished. In aggregate, there are about 81,474,150 Shares issued and outstanding as of October 5, 2016.
Xerox Corp (NYSE:XRX), dropped -2.01% and closed at $9.76 in the last trading session. The last trading range of the stock ranges between $9.69 and $9.96. During the 52-week trading session the minimum price at which share price traded, registered at $8.48 and reached to max level of $11.39. The U.S. Department of Agriculture (USDA) has awarded Xerox (XRX) a 10-year, $110M contract for managed print services (MPS) across all USDA agencies. As part of the agreement, Xerox will install and support up to 16,000 Xerox ConnectKey®-facilitated printers and multifunction devices at more than 3,000 USDA sites around the globe.
USDA is working with Xerox to reduce costs while creating a print, copy, fax and scan environment with fewer but more powerful devices and a smaller environmental footprint. New tools – like ready-to-use apps built into the interface – facilitated by the Xerox ConnectKey technology will support migration to digital workflows and provide detailed analytics to reduce print volumes and paper consumption.
“According to Gartner, companies spend between one and three percent of their annual revenue on printing, and managed print services can assist reduce the expenditure by nearly 30 percent,” said Mike Zimmer, president, U.S. Large Enterprise Operations, Xerox. “With Xerox’s technology and services, the USDA can reduce spending while modernizing their operations, improving security and freeing up vital IT resources to support mission-critical programs.”