Oracle finally takes 60% of PeopleSoft shares
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WASHINGTON, NOV 20 : After a bitter 18-month battle Oracle Corporation has succeeded in taking control of more than 60% of outstanding shares of rival business software group PeopleSoft, but obstacles to the hostile takeover remain.
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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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Oracle Corp. Friday said 61 percent of PeopleSoft Inc. shares were tendered for its $24-a-share offer, strengthening Oracle&#39;s hostile bid position as it waits to
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Oracle Corp.&#39;s $9.2 billion takeover of rival PeopleSoft Inc. neared the finish line early Saturday morning when a majority of stockholders agreed to tender their PeopleSoft shares.
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The database king finally nabs more than 90% of PeopleSoft's outstanding shares.
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Over the weekend, Oracle announced that approximately 60 percent of PeopleSoft&#39;s outstanding shares had been tendered to Oracle in that company&#39;s $9.2 billion takeover bid for PeopleSoft.
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Oracle Corp. ORCL.O said on  Wednesday it has taken control of PeopleSoft Inc. PSFT.O, now  that about 75 percent of PeopleSoft's shareholders have  tendered their shares.
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â¢ 2004-11-22 â¢ Oracle has won a key victory in its battle to acquire PeopleSoft, with PeopleSoft&#39;s investors agreeing to sell Oracle 60 per cent of PeopleSoft&#39;s outstanding shares.
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European Union antitrust regulators have cleared Oracle Corp&#39;s hostile $US7.7 billion ($A10.31 billion) bid for rival business software maker PeopleSoft Inc, removing one of the last major hurdles to the contested merger.
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Oracle has dangled its &quot;best and final&quot; offer of $24 per share in front of PeopleSoft shareholders. Oracle&#39;s latest bid for the software maker is a $3 hike over a previous offer and values PeopleSoft at just less than $9bn.
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Yesterday, Oracle said 75 percent of PeopleSoft shareholders tendered their shares. That officially puts Oracle in charge, moving it closer to closing the contentious $10.3 billion deal.
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Business software maker Oracle Corp. (ORCL.O: Quote, Profile, Research) on Wednesday said it has taken control of rival PeopleSoft Inc.
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Oracle Corp. has completed its acquisition of rival business software maker PeopleSoft Inc., bringing a formal end to a tumultuous takeover saga.
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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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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 has boldly claimed that it now has full control of PeopleSoft, although its takeover is actually not quite done. Oracle on Tuesday revealed that close to 75 per cent of PeopleSoft shares had been tendered by investors.
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Oracle has won backing from slightly more than 60% of PeopleSoft Inc. shareholders in its $9.2 billion hostile takeover. Friday evening, the software maker announced that 228.7 million out of the roughly 376