With three Kansas City-area public companies in various stages of exiting the scene, the region’s performance on the Fortune 500 proved to be a mix bag in 2022.
According to Fortune‘s annual rankings, Merriam-based Seaboard Corp. (NYSE: SEB) remains the highest-ranking local company at No. 382, rising 24 spots compared to the 2021 list.
Despite reporting a 5% increase in revenue, Cerner Corp. (Nasdaq: CERN) fell off the Fortune 500, which the magazine released Monday, tumbling 49 spots to No. 539. The North Kansas City-based health care IT company, which is attempting to sell itself for $28 billion to Oracle Corp. (NYSE: ORCL), made the Fortune 500 for the first time in 2020.
Cerner is the area’s biggest private-sector employer with more than 12,700 employees. Austin, Texas-based Oracle, which ranked No. 91 on this year’s Fortune 500 and is about six times bigger in terms of revenue, is attempting to purchase Cerner for $28 billion through a tender offer that slid backwards last month.