Oracle’s NetSuite Purchase Win Secured by Top Delaware Court (2)

Oracle Corp.‘s 2016 acquisition of NetSuite Inc. was safeguarded Tuesday, with the Delaware Supreme Court upholding a trial judge’s decision finding the deal had been negotiated at arm’s length by a “fully empowered special committee.”

The pension fund that challenged the deal failed to prove that Oracle founder Larry Ellison withheld material information from the committee, according to the high court’s 42-page opinion.

“Furthermore, Ellison did not actually control Oracle,” Chief Justice Collins J. Seitz wrote in the opinion for the court’s full five-member panel. “He had no ability unilaterally to bring about drastic changes without management and ...