Oracle Re-extends PeopleSoft Bid - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Government // Enterprise Architecture

Oracle Re-extends PeopleSoft Bid

Oracle is offering $21 per share or about $7.7 billion for PeopleSoft, a leader in human resources management software and an applications rival of Oracle's.

Oracle again extended its tender offer for PeopleSoft to Friday, Sept. 10 at midnight, Eastern Standard Time.

Oracle is offering $21 per share or about $7.7 billion for PeopleSoft, a leader in human resources management software and an applications rival of Oracle's.

As of late Thursday, about 21,690,141 shares had been tendered and not withdrawn in the offer, Oracle said in a statement announcing the extension.

The latest offer was to expire this Friday at midnight.

The companies are awaiting the ruling of a U.S. District Court Judge who is weighing arguments by the U.S. Department of Justice that the hostile acquisition would be anticompetitive.

Closing arguments took place in late July. Some had expected Judge Vaughn Walker's decision this week. Trial watchers say the judge will start a new case next week which they expect to last 15 days. A ruling on the Oracle case is not expected until Labor Day at the earliest.

Oracle launched what has become an epic takeover battle in June 2003, just days after PeopleSoft announced plans to buy J.D. Edwards and its line of midmarket ERP products. At that time Oracle offered $9.4 billion for PeopleSoft, which loudly rebuffed the offer.

Oracle has maintained that a PeopleSoft/Oracle combination would compete with business application companies ranging from Microsoft to SAP in a broadly defined market. PeopleSoft and government lawyers argued that a merger between the two companies would hurt competition in enterprise applications. For continuing coverage, see CRN.

ROCHELLE GARNER contributed to this report.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
What Digital Transformation Is (And Isn't)
Cynthia Harvey, Freelance Journalist, InformationWeek,  12/4/2019
Watch Out for New Barriers to Faster Software Development
Lisa Morgan, Freelance Writer,  12/3/2019
If DevOps Is So Awesome, Why Is Your Initiative Failing?
Guest Commentary, Guest Commentary,  12/2/2019
White Papers
Register for InformationWeek Newsletters
Current Issue
Getting Started With Emerging Technologies
Looking to help your enterprise IT team ease the stress of putting new/emerging technologies such as AI, machine learning and IoT to work for their organizations? There are a few ways to get off on the right foot. In this report we share some expert advice on how to approach some of these seemingly daunting tech challenges.
Flash Poll