“The length of time the Federal Trade Commission and the Department of Justice have to scrutinize Oracle’s acquisition of the principal company behind the Department of Veterans Affairs’ electronic health record (EHR) modernization program has been extended.
Antitrust authorities now have until Feb. 22 to consider the $28.3 billion deal after Oracle resubmitted a premerger report to lengthen the review period, according to company filings. The DOJ can shorten the period or issue a second request that would extend the timeline for a further 10 days…”
“The acquisition comes as the EHR modernization program at the Department of Veterans Affairs has received scrutiny following major cost overruns and safety concerns.
In January, shortly after the announcement of the deal, two purported Cerner shareholders filed separate complaints against the company and its board members. Each complaint asserts claims under Section 14 of the Exchange Act, which prohibits material misrepresentations and omissions in proxy statements sent to shareholders…” Read the full article here.
Source: Oracle-Cerner deal’s antitrust review is extended to Feb. 22 – By John Hewitt Jones, February 10, 2022. FedScoop.
