Oracle assumes Portal ownership

Oracle Corp. has assumed ownership of Portal Software, following its acceptance as payment all 32 million shares that the company stockholders tendered. These represented approximately 74% of Portal Software's outstanding stock. A subsequent offering period with respect to its tender offer for all outstanding shares of Portal Software will June 30.

During the subsequent offering period, Oracle will accept for payment and promptly pay for Portal Software shares as they are tendered. Stockholders who tender shares during such period will be paid the same $4.90 per share cash consideration paid during the initial offering period.

 

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