Oracle's proposed $28 billion deal to acquire Cerner is undergoing a federal review under the Hart-Scott-Rodino Act, according to a Feb. 4 filing with the Securities and Exchange Commission.
- Oracle and Cerner originally submitted their request for review on Feb. 2, but then retracted it and resubmitted two days later. The companies said the retraction was meant to give the Federal Trade Commission and Justice Department extra time for their review.
- Under the Hart-Scott-Rodino Act, regulators have 15 days to finish the review or request additional information. Barring any requests for additional information, the review will close by Feb. 22.
- The filing listed seven civil complaints filed by supposed Cerner stockholders. In general, the lawsuits alleged the company's disclosures about the deal provided insufficient or incorrect information. Such lawsuits are common for mergers involving public companies, according to The Kansas City Business Journal.