PeopleSoft Shareholders Have Opposing Views on Oracle Bid
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PeopleSoftÂs top shareholder, Capital Guardian Trust, has decided to support OracleÂs $8.8 billion hostile takeover, but the No. 2 holder, Private Capital Management, has decided against it.
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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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Today's announcement of Oracle's $10.3 billion buyout of PeopleSoft Inc. isn't drawing rave reviews from the installed based of customers about to be acquired in the deal.
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As PeopleSoft Chief Executive Craig Conway tried to rally customer support Tuesday, even he had to admit that Oracle's &#36;7.7 billion hostile takeover bid is haunting his company.
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PeopleSoft Inc. PSFT.O on  Wednesday said its board had again unanimously rejected Oracle  Corp.'s ORCL.O $8.8 billion hostile tender offer, and Oracle  immediately appealed to PeopleSoft's shareholders, saying it  would leave the decision up to them.
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A majority of PeopleSoft (PSFT) shareholders are expected to support Oracle&#39;s (ORCL) takeover bid when they tender shares Friday night.
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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.
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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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In the final days before shareholders decide on Oracle&#39;s takeover bid for rival software maker PeopleSoft (PSFT), Oracle (ORCL) is scrambling for votes, and PeopleSoft is bracing for the worst.
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Oracle Corp.&#39;s $24-a-share hostile takeover bid for PeopleSoft Inc. heated up anew yesterday as tonight&#39;s deadline for stockholders to offer their shares for sale approached.
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Two of PeopleSoft&#39;s (PSFT) largest shareholders indicated Tuesday that they would split on supporting Oracle&#39;s (ORCL) $8.8 billion takeover bid for its business software rival, plunging the deal into uncertainty.
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Sure, the PeopleSoft board told shareholders to just say no. This battle will go down to the wire, and even afterward Ellison could prevail.
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Unless a Delaware judge clears the way for Oracle Corp. to buy PeopleSoft Inc. in the next few weeks, the Pleasanton firm&#39;s shareholders will have the final say about their company&#39;s fate on March 25.
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Oracle Corp.'s takeover tug-of-war with rival business software maker PeopleSoft Inc. intensified Tuesday as two shareholders who own nearly 20 percent of PeopleSoft's stock indicated they are prepared to line up on opposite sides of the battle lines.
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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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Investor's Business Daily - The oracle of Oracle   seems to have pulled another rabbit out of his hat in his quest to buy rival PeopleSoft  . A majority of PeopleSoft shareholders appeared poised Friday to accept Oracle's offer of &#36;24 per share, though two analysts said it would be close. (Oracle planned to reveal results of its tender offer at about midnight, after press time.)
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PC Magazine - News Analysis: PeopleSoft customers raise questions about Oracle's service quality.