Larry Ellison cancels plan to sell up to $7.5 bn of Oracle shares
Multiple outlets report that Oracle founder Larry Ellison has withdrawn his intention to offload as much as $7.5 billion of Oracle stock. Earlier reports had said he would sell the shares, but the plan has now been scrapped.
First reported 3 days ago · latest update 1 day ago
Oracle co-founder Larry Ellison has officially canceled a previously announced plan to sell up to $7.5 billion worth of company stock. The decision marks a reversal of a strategy that had been disclosed to the market.
The initial plan involved the potential divestment of a significant portion of Ellison’s holdings in the technology firm. This proposed sale had been valued at approximately $7.5 billion, representing a notable shift in the executive's equity position within the corporation.
Following the initial announcement of the sale, the company confirmed that the transaction would not proceed. No specific reasons for the cancellation of the share sale were provided in the updated disclosures regarding the matter.
The reversal brings an end to the planned liquidation of these shares, maintaining the current structure of Ellison’s ownership stake in Oracle. The company continues to operate under its existing leadership and strategic objectives following the withdrawal of the sale plan.
Citations · 7 reports from 5 outlets
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Larry Ellison cancels plan to sell Oracle stock worth up to $7.5 billion - Reuters
Larry Ellison cancels plan to sell Oracle stock worth up to $7.5 billion Reuters
2 days agoLarry Ellison cancels plan to sell Oracle stock - Reuters
Larry Ellison cancels plan to sell Oracle stock Reuters
2 days agoLarry Ellison Scraps Plan to Sell Up to $7.5 Billion Worth of Oracle Stock - WSJ
Larry Ellison Scraps Plan to Sell Up to $7.5 Billion Worth of Oracle Stock WSJ
2 days agoLarry Ellison to sell up to $7.5bn worth of Oracle stock - Financial Times
Larry Ellison to sell up to $7.5bn worth of Oracle stock Financial Times
3 days agoLarry Ellison cancels $7.5bn Oracle share sale - Financial Times
Larry Ellison cancels $7.5bn Oracle share sale Financial Times
2 days agoLarry Ellison cancels plan to sell Oracle stock worth up to $7.5 billion
1 day agoLarry Ellison nixes plan to offload up to $7.5 billion worth of Oracle stock
Oracle founder Larry Ellison has canceled his plan to sell up to $7.5 billion worth of stock in the software company.
2 days ago