must resist temptation to make a Leisure Suit Larry pun....
Larry Ellison's Oracle swallows Larry Ellison's part owned Netsuite for $9.3bn
Database titan Larry Ellison’s Oracle is slurping NetSuite - a company he and his family already own a big slice of - for a cool $9.3bn (£7bn) to help him compete better with Salesforce, another firm he part owns. The buy will see Oracle splash $109 per share on the first ever purveyor of software clouds: NetSuite was set up …
COMMENTS
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Friday 29th July 2016 11:51 GMT Anonymous Coward
Hmmm
Basically what we have here is a classic example of a conflict of interest. Clearly Oracle grossly overpaid for a company that is bleeding cash, is operating with a dated business model with questionable core assets. Just a guess here, but is seems to me that that the company wasn't worth more 30 bucks a share. And that is being generous. But at that price the boss doesn't get his 3.5 billion dollar pay out.
All of which begs the question: did the management of Oracle serve the stock holders to which it has a legal and binding fiduciary responsibility, or did management simply work to line Larry's pockets? If I was an Oracle stockholder I would be screaming bloody murder about now..........