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Aconex receives $1.19 billion takeover offer from Oracle Corp

(Reuters) – Aconex Ltd (ACX.AX) said on Monday it had received a A$1.56 billion ($1.19 billion), A$7.80 in cash per share, buyout offer from U.S. software major Oracle Corp (ORCL.N).

Aconex said in a statement its directors had unanimously recommended the offer.

Shareholders of the cloud software provider are scheduled to vote on the offer at a scheme meeting in March next year.

($1 = 1.3074 Australian dollars)

Reporting by Aaron Saldanha in Bengaluru, editing by David Evans

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