ORCL: Oracle Increases Price to Rs. 2,100 Per Share for i-flex Open Offer

Oracle today announced that it has increased to Rs. 2,100 per share including interest and has increased to approximately 35 percent the number of shares it has agreed to purchase in the pending open offer of i-flex solutions (Bombay Stock Exchange: IFLX.BO and National Stock Exchange of India: IFLX.NS). The open offer price is a 42% premium to the original price of Rs. 1,475 per share, which represents the highest price paid by Oracle for shares of i-flex.
"There will not be another open offer and Oracle will not undertake a delisting for at least the next five years unless i-flex shares are selling at a significantly lower price than they are today," said Oracle CEO Larry Ellison. "This is the last opportunity for i-flex shareholders to tender their shares to Oracle."

The open offer will close on Saturday, December 23, 2006. DSP Merrill Lynch is acting as a manager of the open offer.