Enterprise software giant Oracle Corporation (
) on Tuesday said it would buy fellow business software maker Art
Technology Group (
) for $1 billion in cash.
The $6 per-share offer represents a 46% upside to ARTG's Monday
closing price of $4.10 per share.
The merger has been approved by both companies' boards, but
still requires regulatory and shareholder approval. The deal is
expected to close by early 2011.
Oracle shares rose 33 cents, or +1.1%, in premarket trading
The Bottom Line
Shares of Oracle (
) have a .69% dividend yield, based on last night's closing stock
price of $29.13. The stock has technical support in the $26 price
area. If the shares can firm up, we see overhead resistance around
the $35 price levels.
Oracle Corporation (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
Be sure to visit our complete recommended list of the
Best Dividend Stocks
, as well as a detailed explanation of
our ratings system here
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