cerner oracle

Oracle to Buy Medical Software Group Cerner for $28.3 Billion

Oracle  (ORCL) – Get Oracle Corporation Report said Monday it will pay $28.3 billion for electronic medical records company Cerner  (CERN) – Get Cerner Corporation Report, likely capping the best year for global merger deals in market history.

Oracle will pay $95 a share, in cash, for the Kansas City, Missouri-based group, a 35% premium to the stock’s share price when reports of the deal began to surface earlier this month. Oracle said the addition will be ‘immediately’ accretive to earnings, with a ‘substantial’ contribution expected in the second fiscal year after the deal closes.