Deals
NetSuite Stock Rises After Shareholder Suggests Higher Bid
- T. Rowe Price wants higher offer to tender NetSuite shares
- Oracle has said current bid is ‘best and final’ price
This article is for subscribers only.
NetSuite Inc. shares rose slightly Friday after a key shareholder suggested that Oracle Corp. could pay a higher price as the deadline looms for investors to decide on whether to endorse the deal.
Oracle agreed in July to buy NetSuite, one of the first cloud computing companies, for about $9 billion to gain market share and compete with rivals like Salesforce.com Inc. and Microsoft Corp. But it has had trouble persuading some of NetSuite’s biggest investors to tender their shares.