Aconex takeover greenlit by US tech giant Oracle

.

The Foreign Investment review board has green lighted the US tech giant, Oracle Corporation’s (NYSE:ORL) proposed takeover of Aconex (ASX:ACX).

The Australian Government has no objections in terms of the construction software company being taken over by the global database platform Oracle (NYSE:ORL) via a scheme of arrangement.

This was final government clearance needed for the merger to go ahead. However it’s now over to Aconex shareholders to vote at a meeting on 14 March 2018 and Supreme Court approval, among other conditions.

The $1.6 billion takeover values Aconex shares are $7.80 per share.

Shares in Aconex are trading 0.1 per cent higher to $7.76.