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Oracle Wins Regulatory Approvals for $28 Billion Cerner Takeover

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(Bloomberg) -- Oracle Corp. said it has received all regulatory clearances needed to complete its $28.3 billion purchase of digital medical-records provider Cerner Corp., paving a further expansion into health care for the software giant.

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“Cerner and Oracle have the capability to transform health care delivery by providing medical professionals with a new generation of health care information systems,“ Larry Ellison, Oracle chairman and chief technology officer, said Wednesday in a statement.

Oracle expects to close the deal on June 6 after the completion of its $95-a-share tender offer to Cerner investors. Ellison is scheduled June 9 to discuss the acquisition and Oracle’s cloud-based health services, the company said in the statement.

The acquisition, announced last December, will be “substantially accretive” to Oracle’s earnings in fiscal year 2023, and a “growth engine for years to come,” said Oracle Chief Executive Officer Safra Catz.

Oracle, the second-biggest software maker by revenue, is best known for legacy database products. The company has struggled in recent years to gain ground in cloud computing, in which companies rent data storage and analytic power from large server centers, trailing far behind market leaders Amazon.com Inc. and Microsoft Corp. The acquisition of Cerner gives Oracle a huge foothold in technology for the health care industry.

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