One casualty of Oracle's $7.4 billion deal to acquire Sun Microsystems, which was recently approved by the European Commission, is the closure of Project Kenai.
People who were reached by the project and who could be reached during evaluation, were appreciative of the project but also showed concerns about the closure of the project.
Some defenders of Superphénix also cite a disputed study by the previous government, which claimed that premature closure of the project could cost $10.5 billion.
It implies that after closure of proposed project work majority of population now exists in low middle and low development category that means socio-economic development has been stopped here.
On March 7 , 2011 the organizers announced the closure of the project due to lack of endorsement from the creators, with $1 million pledged at the time it was shut down.
These were dumped into the Ramu River at the closure of the project; lack of interest in follow-on activities.
Some acquisitions, especially of distressed companies, require the acquirer to make harsh, even drastic changes – e.g., layoffs, plant closures and cancellation of projects.
