Oracle takes control of Retek

Owns 92.8% of company; tenders offer for remaining shares

By Martyn Williams

April 6, 2005 12:00 PM ET

Recommended

IDG News Service - Oracle Corp. has assumed control of retail management software vendor Retek Inc. after acquiring about 83% of its outstanding stock, Oracle said today.
Added to the 9.8% of Retek that it already owned, Oracle now owns 92.8% of Retek. The offer for Retek stockholders to tender their shares ended at midnight Eastern time yesterday, Oracle said.
Retek agreed to be acquired by Oracle about two weeks ago in a deal that saw Oracle offering $11.25 per share for its stock. Prior to the agreement, Oracle waged a battle with German software rival SAP AG to acquire Retek, which is based in Minneapolis. It sells a variety of retail-focused applications, including software for operations management, supply chain planning, merchandising and demand forecasting.
With the majority of Retek stock now in its hands, Oracle said it plans to name five people to Retek's board of directors to replace board members who will resign. Three current board members will stay on until the merger is completed, Oracle said.
With the completion of the first tender offer, Oracle has started a second offer that runs from today until Monday .

Reprinted with permission from

IDG.net
Story copyright 2009 International Data Group. All rights reserved.

Recommend Digg Twitter ShareThis

Email Print Send Feedback Reprints

Jump to comments

Business Intelligence

Additional Resources

WHITE PAPER

Do You Know the 7 Steps to Successful Data Migration?

Approximately 60 percent of data migration projects overrun time or budget, while some fail completely. Download this white paper, "Enhancing Your Chance for Successful Data Migration," to learn the critical steps you need to take to execute a data migration project with minimum cost and risk to your business.

WHITE PAPER

Total Cost of Ownership of Server Computing Vs. PCs

Read the Gartner research note to learn why the TCO of a server-based computing deployment used to deliver all applications to users is around 50% lower than that of an unmanaged desktop deployment.

WHITE PAPER

IDC White Paper: Linux in a Global Recession

Economic downturns have a tendency to accelerate emerging technologies, boost the adoption of effective solutions, and punish solutions that are not cost competitive or that are out of synch with industry trends. This IDC White Paper presents the results of an IDC survey of 330 companies in Western Europe, Asia/Pacific and the Americas that measures the receptiveness to Linux and takes into consideration changing views driven by the disruptive economic environment that businesses face today.

White Papers & Webcasts

Informatica 9 Launch: Transform your Business. Transform your world.

LIVE Nov 10, 2009 12:00 PM ET

Architecting Business Intelligence Applications for Change: The Open Solution

LIVE Nov 12, 2009 02:00 PM ET

IDC Research Report: The Business Value of Consolidating on Energy-Efficient Servers
Download this Resource Now!

Top to Bottom Performance Management Excellence at the City of Chicago
View now.

HP Technology Guide for Scalable Business Solutions
Download This Resource Now!

Architecting Business Intelligence Applications for Change: The Open Solution
Register for this webcast today!

Clipper Group Report: HP Provides Enhanced Options for Data Center
Download this Resource Now!

Enterprise Data Governance: Bridging the Business-IT Gap
Register for this live webcast today!

Technology Brief: Technologies in HP ProLiant G6 c-Class server blades with Intel Xeon processors
Download this Resource Now!

Informatica 9 Launch: Transform your Business. Transform your world.
Business and IT will finally be on the same page. Data quality issues will be a thing of the past. The promise of...

Introducing the HP ProLiant G6 servers
Download this Resource Now!

Lower IT Costs with Oracle Database 11g Release 2
Register for this webcast now!

All White Papers | All Webcasts