Oracle Assumes Ownership of Hyperion
April 13 2007 - 8:08PM
PR Newswire (US)
Over 91% of Shares Acquired by Oracle REDWOOD SHORES, Calif., April
13 /PRNewswire-FirstCall/ -- Oracle (NASDAQ:ORCL) today announced
that Hyperion Solutions Corporation (NASDAQ:HYSL) shareholders
tendered approximately 55.4 million shares (including shares
tendered pursuant to guaranteed delivery procedures), representing
approximately 91.7% of the shares outstanding. Pursuant to the
terms of Oracle's tender offer for all of the outstanding common
stock of Hyperion which expired at 5:00 p.m., New York City time,
on Friday, April 13, 2007, all shares that were validly tendered
and not withdrawn have been accepted for payment. (Logo:
http://www.newscom.com/cgi-bin/prnh/20020718/ORCLLOGO ) Oracle will
designate six representatives to serve on Hyperion's board of
directors, giving Oracle majority board representation. Two of the
current Hyperion board members will remain on the Hyperion board
until the merger between the companies is completed. Oracle has
also commenced a three business day subsequent offering period for
all remaining Hyperion shares. During the subsequent offering
period, Hyperion shares will be accepted for payment as they are
tendered at the same offer price paid during the initial offer
period of $52.00 per share in cash. The subsequent offering period
will expire at 5:00 p.m., New York City time, on Wednesday, April
18, 2007. After the expiration of the subsequent offering period,
Oracle will acquire all of the remaining outstanding shares of
Hyperion by means of a merger under Delaware law. All remaining
outstanding Hyperion shares will be cancelled and converted into
the right to receive $52.00 per share, net to the seller in cash
without interest, less any required withholding taxes. Following
the merger, Hyperion will be a wholly-owned subsidiary of Oracle.
About Oracle Oracle is the world's largest enterprise software
company. For more information about Oracle, visit our Web site at
http://www.oracle.com/. Trademarks Oracle is a registered trademark
of Oracle Corporation and/or its affiliates. Other names may be
trademarks of their respective owners. Important Information THIS
DOCUMENT IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT AN OFFER TO
BUY OR THE SOLICITATION OF AN OFFER TO SELL ANY SECURITIES. THE
SOLICITATION AND THE OFFER TO BUY SHARES OF HYPERION'S COMMON STOCK
WILL ONLY BE MADE PURSUANT TO THE OFFER TO PURCHASE AND RELATED
MATERIALS THAT ORACLE CORPORATION AND HOTROD ACQUISITION
CORPORATION FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON
MARCH 9, 2007, AS AMENDED FROM TIME TO TIME. HYPERION STOCKHOLDERS
SHOULD READ THESE DOCUMENTS CAREFULLY PRIOR TO MAKING ANY DECISIONS
WITH RESPECT TO THE OFFER BECAUSE THEY CONTAIN IMPORTANT
INFORMATION, INCLUDING THE TERMS AND CONDITIONS OF THE OFFER.
HYPERION STOCKHOLDERS MAY OBTAIN THE OFFER TO PURCHASE AND RELATED
MATERIALS WITH RESPECT TO THE OFFER FREE OF CHARGE AT THE SEC'S
WEBSITE AT WWW.SEC.GOV, FROM THE INFORMATION AGENT NAMED IN THE
TENDER OFFER MATERIALS OR FROM ORACLE. Cautionary Statement
Regarding Forward-Looking Statements This document contains certain
forward-looking statements about Oracle and Hyperion. When used in
this document, the words "anticipates", "may", "can", "believes",
"expects", "projects", "intends", "likely", similar expressions and
any other statements that are not historical facts, in each case as
they relate to Oracle and Hyperion, the management of either such
company or the transaction are intended to identify those
assertions as forward-looking statements. In making any such
statements, the person making them believes that its expectations
are based on reasonable assumptions. However, any such statement
may be influenced by factors that could cause actual outcomes and
results to be materially different from those projected or
anticipated. These forward-looking statements are subject to
numerous risks and uncertainties. There are various important
factors that could cause actual results to differ materially from
those in any such forward-looking statements, many of which are
beyond the control of Oracle and Hyperion, including: the impact of
general economic conditions in regions in which either such company
currently does business, industry conditions, including
competition, fluctuations in exchange rates and currency values,
capital expenditure requirements, legislative or regulatory
requirements, changes in the tax laws, interest rates and access to
capital markets. The actual results or performance by Oracle or
Hyperion could differ materially from those expressed in, or
implied by, these forward-looking statements. Accordingly, no
assurances can be given that any of the events anticipated by the
forward-looking statements will transpire or occur, or if any of
them do so, what impact they will have on the results of operations
or financial condition of Oracle or Hyperion.
http://www.newscom.com/cgi-bin/prnh/20020718/ORCLLOGO
http://photoarchive.ap.org/ DATASOURCE: Oracle Corporation CONTACT:
Deborah Hellinger of Oracle Public Relations, +1-650-506-5158, or
Web site: http://www.oracle.com/
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