As the deadline for NetSuite Inc (NYSE: N) Oracle Corp. (NYSE: ORCL)'s tender offer expires on November 4, sentiments remain weak on the possibility of the transaction coming through. Since the company indicated the final offer price of $109 a share on October 7, the stock has dropped about 18 percent.

As several analysts have already expressed their opinions, Barclays joined them in expressing doubts whether enough shares would be tendered, as Oracle needs 22 percent unaffiliated shares to complete the transaction. Barclays analyst Raim Lenschow pointed out the big gap between Oracle’s offer price and T. Row Price’s demand for $133 per share raising doubts about the possibility of the deal getting completed. As a result, the analyst feels NetSuite shares will be impacted meaningfully.

As a result, the valuation would be standardized for NetSuite on a standalone basis. “We think that investors need to begin considering valuation levels for NetSuite should the deal collapse. In this report, we have provided an in-depth sensitivity analysis on potential share prices for a stand-alone NetSuite relative to a given EV/Sales multiple and level of revenue growth. Given the current comp situation, our high-level analysis seems to indicate a potential range of $60–80,” Barclays said in a research note.