The merger of Oracle Corp. and Portal Software took effect July 3, paving the way for the full integration of the two companies. Following the merger, Portal would become a wholly owned subsidiary of Oracle.
Oracle's subsequent offering period under its tender offer to purchase all of the outstanding shares of Portal expired at 8 p.m., New York City time, on June 30. Including those shares tendered in the initial offering period, Oracle had acquired more than 38 million shares, or more than 88%, of Portal's outstanding stock.
Oracle's subsequent offering period under its tender offer to purchase all of the outstanding shares of Portal expired at 8 p.m., New York City time, on June 30. Including those shares tendered in the initial offering period, Oracle had acquired more than 38 million shares, or more than 88%, of Portal's outstanding stock.