Oracle to buy 20% in i-flex via open offer

Oracle Global (Mauritius) along with Oracle Corporation has made an open offer to acquire 20 per cent equity of i-flex Solutions.

According to a release issued by i-flex to the Bombay Stock Exchange on Wednesday, Oracle has made an open offer of Rs 1,475 per share to acquire 16,629,023 equity shares, representing 20 per cent of its total equity.

The open offer will start on 6 November and close on 25 November. The offer will be managed by DSP Merrill Lynch, the release added.