Oracle says PeopleSoft merger ready to roll by January
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It may be one of the software industry's largest acquisitions to date, but OracleÂ expects to work out its merger plans with PeopleSoftÂ by the end of the year and will "hit the ground running in January," according to Oracle President Charles Phillips.
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PeopleSoft Inc. on Monday agreed  to a sweetened $10.3 billion buyout by rival software maker  Oracle Corp., relenting after a 18-month takeover saga that  included the ouster of PeopleSoft's chief executive.
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UNDATED The Wall Street Journal reports PeopleSoft is getting ready for a proxy fight at its annual meeting next spring over the Oracle takeover bid.
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By Spencer Swartz SAN FRANCISCO  - PeopleSoft Inc. will push ahead with a new marketing alliance with IBM and other initiatives despite a recent court ruling that bolstered Oracle Corp.'s $7.7-billion hostile bid to acquire the company, PeopleSoft's CEO said on Tuesday.
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SAN FRANCISCO - Oracle Corp. finally scooped up rival PeopleSoft Inc. after 18 months of legal and verbal strife, ending a feud with a $10.3 billion deal that promises to shake up the business software industry.
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The PeopleSoft director who has been leading the defense of the software company's anti-takeover measures said Tuesday the company's board is willing to talk about a deal with rival Oracle.
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With PeopleSoft&#39;s stockholders tendering more than 60 percent of shares, Oracle&#39;s takeover bid looks poised for success. By Associated Press.
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Oracle Corp.&#39;s takeover tug-of-war with rival business software maker PeopleSoft Inc. intensified Tuesday as two shareholders who own nearly 20 percent of PeopleSoft&#39;s stock indicated they are prepared to line up on opposite sides of the battle lines.
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The judge presiding over the U.S. Department of Justice's (DOJ) attempt to block Oracle Corp.'s proposed takeover of rival software maker PeopleSoft Inc. ruled in Oracle's favor on Thursday, removing one obstacle preventing the hostile acquisition.  The decision means Oracle's fifteen-month campaign to buy PeopleSoft through a $7.7 billion cash tender offer to PeopleSoft's shareholders will continue.  "Because plaintiffs have not shown by a preponderance of the evidence that the merger of Oracle and PeopleSoft is likely substantially to lessen competition in a relevant product and geographic market ... the court directs the entry of judgment against plaintiffs and in favor of defendant Oracle," U.S. District Court for the Northern District of California Judge Vaughn Walker wrote in his ruling.  The decision is a setback for PeopleSoft and a significant blow to the DOJ, but it's far from a green light for Oracle. From the start, the biggest obstacle to the deal has been PeopleSoft's "poison pill," an anti-takeover provision in its bylaws that allows it to manipulate its shares to make a hostile acquisition prohibitively expensive. Oracle is challenging the legality of PeopleSoft's poison pill; trial on that case is scheduled to commence Sept. 27 in Delaware's Court of Chancery.  Oracle in a first reaction to the ruling said that it removes a significant roadblock to the acquisition. "This decision puts the onus squarely on the board of PeopleSoft to meet with us and to redeem their poison pill so that the shareholders can accept our offer," Oracle Chairman Jeffrey Henley said in a statement.  However, Oracle also has to convince PeopleSoft's shareholders to take advantage of its buyout offer. The company is offering $21 per share. So far, only 21.7 million of PeopleSoft's shares, 6 percent of the company's outstanding total, had been tendered into Oracle's offer as of Aug 27. That percentage may rise with the DOJ's defeat, as shareholders anticipate a better chance Oracle's bid will be successful.  PeopleSoft's shares (PSFT) ended trading Thursday on the Nasdaq exchange at $17.95. The shares bounced up 15.26 percent in after-hours trading to $20.69.  Oracle and PeopleSoft also remain locked in another legal battle in California's Alameda County Superior Court, where PeopleSoft has charged Oracle with unfair business practices. Oracle countered with a complaint accusing PeopleSoft of illegally refusing to seriously evaluate Oracle's bid, and of improperly creating a "customer assurance program" that could make an Oracle acquisition of PeopleSoft very costly if Oracle. The case is schedule for trial in November.
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PeopleSoft Inc. has agreed to a sweetened US$10.3 billion buyout by rival software maker Oracle Corp., relenting after a 18-month takeover saga marked by personal insults, courtroom battles and the ouster of PeopleSoft&#39;s chief executive.
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WILMINGTON, Del. Oct. 5, 2004 - PeopleSoft Inc., which has resisted hostile takeover advances from Oracle Corp. for 16 months, is willing to talk about a deal at the right price, a member of PeopleSoft&#39;s board said Tuesday.
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The European Commission is expected to approve Oracle&#39;s $7.7 billion acquisition of PeopleSoft on Tuesday, with no conditions attached, a person close to the case said Monday.
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Oracle Corp.  is in merger talks with other technology companies as it awaits the outcome of its &#36;9.2 billion hostile takeover bid for rival software maker PeopleSoft Inc. .
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It&#39;s an early Christmas for Oracle Corp.âand PeopleSoft Inc. shareholders. The two companies announced early Monday morning a definitive merger agreement whereby Oracle will acquire PeopleSoft for $26.50 per share, or $10.3 billion.
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After more than a year of trying, Oracle officials have convinced PeopleSoft&#39;s board members to accept a deal to merge the two companies.
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PeopleSoft Inc. will push ahead with a new marketing alliance with IBM and other initiatives despite a recent court ruling that bolstered Oracle Corp.
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It may be one of the software industry&#39;s largest acquisitions to date, but Oracle expects to work out its merger plans with PeopleSoft by the end of the year and will &quot;hit