Oracle Adds More Funding For PeopleSoft Push - 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.

IoT
IoT
Software // Enterprise Applications

Oracle Adds More Funding For PeopleSoft Push

It has negotiated a $1.5 billion line of credit and says it has enough financial resources on hand to close the deal.

Oracle has raised another $1.5 billion to fund its $7.5 billion hostile takeover bid for PeopleSoft.

In a filing with the Securities and Exchange Commission, Oracle said it has negotiated the $1.5 billion line of credit with ABN Amro Bank NV, Credit Suisse First Boston, and other lenders. Oracle said it had enough financial resources on hand Nov. 30 to complete the deal--$8.1 billion.

Earlier, Oracle had extended the deadline for its initial offer from Dec. 31 to Feb. 13, 2004. PeopleSoft has been resisting the hostile acquisition bid and says it's confident it will ward off the unsolicited tender offer.

The takeover bid has been delayed as antitrust regulators in Europe and the United States examine the issue.

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
News
Think Like a Chief Innovation Officer and Get Work Done
Joao-Pierre S. Ruth, Senior Writer,  10/13/2020
Slideshows
10 Trends Accelerating Edge Computing
Cynthia Harvey, Freelance Journalist, InformationWeek,  10/8/2020
News
Northwestern Mutual CIO: Riding Out the Pandemic
Jessica Davis, Senior Editor, Enterprise Apps,  10/7/2020
White Papers
Register for InformationWeek Newsletters
Video
Current Issue
[Special Report] Edge Computing: An IT Platform for the New Enterprise
Edge computing is poised to make a major splash within the next generation of corporate IT architectures. Here's what you need to know!
Slideshows
Flash Poll