PeopleSoft Rejects Oracle Bid
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PeopleSoft is worth substantially more than $24 a share, according to its own board of directors. So saying, the board rejected Oracle&#39;s latest offer to purchase the enterprise software company.
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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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American software giant PeopleSoft remained defiant against Oracle&#39;s hostile $9.2billion (Â£5billion) bid yesterday despite PeopleSoft shareholders backing the offer over the weekend.
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Oracle has made a huge step towards victory in its hostile takeover bid for rival business software company PeopleSoft, as the US federal courts rejected the Department of Justice&#39;s attempt to block the takeover bid.
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NEW YORK, October 8  - Oracle Corporation (ORCL.NAS) is considering altering its takeover bid for the rival business software company, PeopleSoft, with discussions leaning towards a potential decline in the current offer of $7.
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Software company Peoplesoft has formally rejected a takeover bid from rival Oracle for a sixth time. The rejection came after about 61% of shareholders in the California-based business software firm backed Oracle&#39;s $9.2bn (Â£4.9bn) approach.
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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'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 federal judge rejects the US government's bid to block software giant Oracle's hostile takeover of rival PeopleSoft.
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NOVEMBER 22, 2004 (IDG NEWS SERVICE) - PeopleSoft Inc. won&#39;t discuss a sale to Oracle Corp. for a price of $24 per share, the company&#39;s board of directors told Oracle CEO Larry Ellison in a letter on Saturday.
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&quot;We believe that Oracle has nominated this slate to allow Oracle to purchase PeopleSoft for an inadequate price that does not reflect the Company&#39;s real value,&quot; PeopleSoft said in a statement.
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LOS ANGELES (CBS.MW) -- A Delaware judge rejected the proposed settlement of a lawsuit brought against PeopleSoft Inc. by shareholders over the company&#39;s resistance to Oracle Corp.
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InfoWorld - PeopleSoft's Board of Directors voted Wednesday to recommend that its stockholders reject Oracle's takeover offer of &#36;24 per share. Oracle CEO Larry Ellison quickly responded, saying the offer is final and that it is now up to PeopleSoft's shareholders to make a determination.
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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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A PeopleSoft director testified on Tuesday that he would be open to considering Oracle's $7.7 billion offer. But, PeopleSoft executives said the company remains opposed.
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The directors of software firm Peoplesoft reject a fifth takeover offer from rival Oracle, decribing the $8.8bn bid as inadequate.
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PeopleSoft Inc.'s  board  on Wednesday again unanimously rejected Oracle Corp.'s  &#36;8.8-billion hostile tender offer, leaving Oracle to appeal directly to PeopleSoft shareholders to decide on the bid for themselves.