Larry Ellison Conquers The World, Starting With NetSuite

| About: Oracle Corporation (ORCL)

Summary

Oracle buys NetSuite.

Alere runs into trouble and then more trouble.

Listen to the Rangeley podcast for more.

Welcome to the $9 Billion issue of M&A Daily

Oracle

Did Oracle (NASDAQ:ORCL) CEO Larry Ellison fly beneath the Golden Gate Bridge? He says only that doing so would have been illegal. I have some Ellison stories from prior deals that I worked on, but will save them for an upcoming podcast… Meanwhile, Oracle is buying NetSuite (NYSE:N) in a $9 billion cash deal. N holders get $109 per share.

FEI

The definitive proxy statement was filed for the Thermo Fisher (NYSE:TMO) acquisition of FEI (NASDAQ:FEIC). FEI holds its shareholder vote on August 30.

Sequenom

The definitive merger agreement was filed for the Laboratory Corp. (NYSE:LH) acquisition of Sequenom (NASDAQ:SQNM).

Epiq

The definitive merger agreement was filed for the OMERS acquisition of Epiq (NASDAQ:EPIQ).

InterOil

InterOil (NYSE:IOC) will release second quarter results on August 4. The company also scheduled the shareholder meeting for September 21 to vote on its acquisition by Exxon (NYSE:XOM).

Hampton

Xenith (NASDAQ:XBKS) and Hampton (NASDAQ:HMPR) hold their shareholder votes today on their merger.

Marketo

Marketo (NASDAQ:MKTO) holds its shareholder vote today on its acquisition by Vista Equity.

ITC

ITC (ITC) expects the acquisition by Fortis (OTCPK:FRTSF) to close in 2016.

Federal-Mogul

The Federal-Mogul (NASDAQ:FDML) review of Icahn Enterprises' (NYSE:IEP) proposal remains ongoing.

Alere

Alere's (NYSE:ALR) toxicology unit received a DOJ subpoena on July 1 seeking records related to its Medicare, Medicaid and Tricare billing. Alere is cooperating with the investigation and believes the matters to be immaterial.

The arb spread is currently $24.52. Abbott (NYSE:ABT) wants out but might agree to a re-cut deal in light of the tight definitive merger agreement. More to come in future editions of M&A Daily

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Disclosure: I am/we are short IEP.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: Chris DeMuth Jr and Andrew Walker are portfolio managers at Rangeley Capital. We invest with a margin of safety by buying securities at discounts to their intrinsic value and unlocking that value through corporate events. To maximize returns for our investors, we reserve the right to make investment decisions regarding any security without notification except where notification is required by law. We manage diversified portfolios with a multi-year time horizon. Positions disclosed in articles may vary in sizing, hedges, and place within the capital structure. Disclosed ideas are related to a specific price, value, and time. If any of these attributes change, then the position might change (and probably will).