Larry Ellison Defeats Conflict Claim on Oracle-NetSuite Deal (3)

Oracle Corp. founder Larry Ellison won a pension fund lawsuit over the company’s 2016 acquisition of rival software maker NetSuite Inc., as a judge ruled that the transaction was negotiated at arm’s length by a “fully-empowered special committee.”

The investor suit, brought in Delaware Chancery Court, accused Ellison and Oracle of overpaying by $3 billion for NetSuite. Ellison owned 47% of the company at the time of the $9.3 billion deal and held about 28% of Oracle’s shares.

Larry Ellison

Photographer: David Paul Morris/Bloomberg

Vice Chancellor Sam Glasscock III said in a decision Friday that Ellison withdrew from Oracle’s consideration of the acquisition just ...