Welcome to the $9 Billion issue of M&A Daily
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.
The definitive merger agreement was filed for the OMERS acquisition of Epiq (NASDAQ:EPIQ).
Marketo (NASDAQ:MKTO) holds its shareholder vote today on its acquisition by Vista Equity.
ITC (ITC) expects the acquisition by Fortis (OTCPK:FRTSF) to close in 2016.
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.
Elsewhere on Seeking Alpha
- Big Verizon Deal Near (NYSE:VZ)
- Letter To NorthStar (NSAM, NRF, CLNY)
- Alere Fraud Probe Can Doom Company
- Elon Musk Is Right About This Merger (TSLA, SCTY)
- Analog Devices - Linear Deal Looks Solid (ADI, LLTC)
- What AB And SABMiller Investors Should Focus On (NYSE:BUD)
- Blue Bird Receives An Offer (NASDAQ:BLBD)
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).