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Oracle Corp to buy Aconex for $1.19 bn

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Sydney: Australia’s Aconex Ltd said on Monday it had received a A$1.56 billion ($1.2 billion), or A$7.80 in cash-per-share, buyout offer from US software major Oracle Corp, sending the target’s share price up 45 per cent.


Aconex said in a statement its directors unanimously recommended the offer, with shareholders of the cloud-based project management company scheduled to vote on the bid at a scheme meeting in March next year.


The Australian company specialises in web-based project management software that allows input from different teams.— Reuters


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