Oracle, Shareholders Spar Over $9.3B NetSuite Merger

Law360, Wilmington (January 25, 2018, 9:23 PM EST) -- Attorneys for key directors of tech giant Oracle Corp. told a Delaware vice chancellor Thursday that the company ran a "playbook" $9.3 billion acquisition of NetSuite Inc. despite putative class claims that founder Larry Ellison — who also controls NetSuite — engineered a deeply conflicted, personally profitable deal.

The company's description of the deal contrasted sharply with one made by shareholder attorneys, who told Vice Chancellor Sam Glasscock III that Ellison family interests took in a $4.1 million share of the allegedly overpriced 2016 transaction, with the result tainted by director conflicts and an advisor incentivized to justify the merger....

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