"Well it's done from our perspective. We had special boards, special committees of both boards negotiate the transaction. We think we've made a fair offer of $109 a share," he said.
While $109 was the peak for the stock price in the past 18 months back in July, certain shareholders said they wanted a higher offer. Earlier this month, Oracle reported that 4.6 million NetSuite shares had been tendered, compared to the 20.4 million required for the deal to pass, according to the Wall Street Journal.
"It's our best and final offer," Hurd said on the show today. The tender offer deadline was extended to November 4 and Oracle will go with what the shareholders want.
"If the shareholders don't want to tend to their shares, we'll move on to other things," Hurd said.
NetSuite is seen as "more of an applications company" that would help Oracle "on the software as a service part of the cloud," he explained.
While Amazon.com (AMZN), Alphabet's (GOOGL) Google, IBM (IBM) and Microsoft (MSFT) are seen as the big players in the cloud sector, Oracle is making progress.
"Let me put it this way, we've booked more in the cloud, if you will, revenue than anybody else in the industry last year," he said.
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Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings team rates Oracle as a Hold with a ratings score of C+. The primary factors that have impacted the team's rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.
You can view the full analysis from the report here: ORCL