Oracle Says It Has Control of PeopleSoft
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Business software maker Oracle  Corp. ORCL.O on Wednesday said it has taken control of rival  PeopleSoft Inc. PSFT.O now that about 75 percent of its  rival's shareholders have tendered their shares.
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NEW YORK: PeopleSoft Inc., which is trying to fight off a hostile takeover by rival Oracle Corp., on Friday said its board had ousted President and Chief Executive Craig Conway due to &quot;a loss of confidence&quot; in his ability to lead the software company.
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After nearly 18 months of stuggle, and a &quot;final offer&quot; deadline that expired at midnight, Oracle now owns of 61 per cent of PeopleSoft -- a giant, but not quite final, step toward winning control of the company.
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: Oracle Corp said on Wednesday it has taken control of PeopleSoft Inc, now that about 75 per cent of shareholders of the rival software maker have tendered their shares.
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After an 18-month hostile takeover battle, Oracle has finally won control of rival PeopleSoft, creating the world&#39;s second-largest supplier of business management software applications.
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Oracle expects to complete its &#36;10.3 billion acquisition of business-software rival PeopleSoft by the end of next week and unveil a blueprint for the merged companies Jan. 14, Oracle Chief Executive Larry Ellison said in a letter to PeopleSoft employees.
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Business software group Oracle Corp. announced that it had taken control of rival PeopleSoft by grabbing 75 percent of its stock, ending a rancorous 18-month struggle.
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The Oracle Corporation has taken control of PeopleSoft, ending an 18-month fight and making Oracle the world&#39;s second-largest maker of business-management software.
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REDWOOD SHORES, Calif. -- Software giant Oracle Corp. said Wednesday that stockholders of rival PeopleSoft Inc. have tendered about 75 percent of the company&#39;s outstanding shares, granting Oracle control of the company.
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Oracle has officially taken control of PeopleSoft Inc. after purchasing the 75% of PeopleSoft stock tendered by the application vendor&#39;s shareholders, Oracle disclosed early Wednesday.
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NEW YORK Oracle said on Wednesday that it had taken control of PeopleSoft, as holders of about 75 percent of the shares of the rival software maker had tendered their shares to Oracle.
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Senior executives at business software group PeopleSoft have once again spurned a takeover bid from Oracle Corp, even after the latter announced it had control of more than 60 percent of PeopleSoft&#39;s shares.
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As the specter of an Oracle Corp. takeover hovers overhead, PeopleSoft Inc. is doing what it can to solidify its user base and help enterprises better manage its products.
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A ruling that allows Oracle to proceed with its bid for PeopleSoft appears to have done nothing to soften PeopleSoft's resolve to remain independent.
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WASHINGTON : Senior executives at business software group PeopleSoft have once again spurned a takeover bid from Oracle Corp, even after the latter announced it had control of more than 60 percent of PeopleSoft&#39;s shares.
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Oracle Corp. said on Wednesday it has  taken control of PeopleSoft Inc., now that about 75 percent of  PeopleSoft's shareholders have tendered their shares.
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NOVEMBER 20, 2004 (IDG NEWS SERVICE) - A majority of PeopleSoft Inc.&#39;s shareholders gave Oracle Corp. the green light to continue its hostile bid for control of the company, tendering more than 60 percent