PeopleSoft's board recommends shareholders reject Oracle takeover bid
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Senior executives at business software group PeopleSoft unanimously recommended that its shareholders reject a 8.8 billion dollar takeover bid from Oracle Corp, PeopleSoft said in a statement Wednesday.
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PeopleSoft Inc.'s board of directors said it rejected Oracle Corp.'s $9.2 billion takeover bid Saturday, continuing its staunch resistance a day after the company's own shareholders tendered more than 60 percent of stock to Oracle.
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PeopleSoft Inc.&#39;s board of directors said Saturday it will not accept Oracle Corp.&#39;s bid to buy the company for $24 per share, even after 61 percent of the Pleasanton firm&#39;s investors endorsed the offer.
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PeopleSoft (PSFT:Nasdaq - news - research) Wednesday publicly rejected Oracle&#39;s (ORCL:Nasdaq - news - research) $24-a-share takeover offer, saying the $8.
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The PeopleSoft board has rejected Larry Ellison &quot;best and final&quot; $8.8 billion hostile takeover offer, leaving the Oracle chief executive with no choice but to appeal directly to PeopleSoft shareholders.
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PeopleSoft's board of directors today rejected Oracle's latest $24-per-share "best and final offer" for the company, leaving the outcome in the hands of PeopleSoft shareholders.
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A group of PeopleSoft shareholders has asked that a Delaware judge order the company&#39;s board to negotiate with rival software maker Oracle, which is trying to acquire PeopleSoft for $8.
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PeopleSoft board members on Wednesday rejected Oracle&#39;s &quot;best and final&quot; offer in the often contentious 17-month hostile takeover battle--but the database software giant remains on the hunt.
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That sentiment came after PeopleSoft&#39;s board rejected Oracle&#39;s latest offer for the company, which amounted to USD24 per share.
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Oracle Corp. on Monday again  asked PeopleSoft Inc.'s board of directors to rescind an  anti-takeover provision, as the two business software makers  prepared to return to court this week to address one of the  final barriers to the $9.2-billion takeover bid.
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Reflecting the uncertainty that has always swirled around Oracle's hostile bid for control of PeopleSoft, two major PeopleSoft shareholders have reached opposite conclusions about how to cast their votes on Oracle's buyout offer.
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The board of PeopleSoft Inc. Wednesday rejected Oracle Corp.'s $24-a-share hostile takeover bid as too cheap, but said it was open to a deal at a higher price. -The Washington Post
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(SAN FRANCISCO) - PeopleSoft is asking its shareholders to reject what Oracle calls its &quot;best and final offer&quot; to buy the company.
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PeopleSoft Inc. said its board remains convinced Oracle Inc.&#39;s $24-a-share takeover bid is ``inadequate&#39;&#39; and said it will not sell the company for less than it&#39;s worth.
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To probably no one&#39;s surprise, the PeopleSoft board again has rejected Oracle&#39;s $9.2 billion bid for the company as insufficient.
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PeopleSoft Inc.&#39;s board of directors urged company shareholders on Wednesday to reject Oracle Corp.&#39;s bid of $24 per share for the Pleasanton firm, casting more uncertainty on the 17-month takeover battle.
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PeopleSoft board of directors might not be supporting it, but almost 60% of the shareholders have given their support to the Oracleâs bid to take over PeopleSoft.