Oracle ups bid for i-flex at $1.3 bln

New Delhi, Dec 8 (UNI) Enterprise software company Oracle today announced it has increased its price by 42 per cent to Rs 2,100 per share in the pending open offer against i-flex solutions, to buy an additional 35 per cent of the latter for 1.3 billion dollars.

Oracle, which already owns 55 per cent of the banking software maker i-flex Solutions, said it wanted to take its stake in the company to 90 per cent and raised the price to Rs 2,100 per share including interest up from Rs 1,475 previously, 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,'' he added.

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

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