Oracle’s $28.3B deal to buy Cerner facing antitrust scrutiny, additional lawsuits
Oracle’s planned $28.3 billion purchase of electronic health records firm Cerner is undergoing antitrust scrutiny and facing multiple civil lawsuits, the Kansas City Business Journal reported Feb. 7.
Both companies submitted a request to review the proposed mega-deal on Feb. 2 but rescinded and resubmitted it on Feb. 4 to give the Department of Justice additional time for analysis.
The DOJ and Federal Trade Commission must determine if the agreement violates the Hart-Scott-Rodino Act, a standard move prior to mergers and acquisitions. Regulators have 15 days to finish the review or request additional information. The process would finish, if regulators don’t ask for more information, on Feb. 22.
Additionally, a filing submitted Friday to the Securities and Exchange Commission contained seven civil actions brought forth by Cerner stockholders. Each was filed in the U.S. District Court for the Southern or Eastern District of New York and claims the company’s disclosure documents contain “insufficient or incorrect” information.
These lawsuits are normal for deals that involve public companies, according to the news outlet.
Read the full story below.
Matt joined Chicago’s TriMed team in 2018 covering all areas of health imaging after two years reporting on the hospital field. He holds a bachelor’s in English from UIC, and enjoys a good cup of coffee and an interesting documentary.