Oracle claims support of PeopleSoft shareholders
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PeopleSoft has remained defiant in the long-running hostile takeover bid by Oracle, despite &#39;over 60%&#39; of its shareholders coming down in favour of its rival.
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At its user conference yesterday, Oracle continued to send out mixed messages about how it will support PeopleSoft products if it succeeds in its $9.2bn (Â£4.8bn) takeover bid for its rival.
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Oracle has taken official control of rival PeopleSoft following this week&#39;s decision by PeopleSoft shareholders to tender 75 percent of outstanding stock holdings to the US database and applications giant.
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Despite a clear-cut show of support among its shareholders to accept Oracle&#39;s hostile takeover bid, PeopleSoft&#39;s board is digging in for a fight.
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Investors continued to bet Friday that most PeopleSoft Inc. shareholders will back Oracle Corp.'s &#36;9.2 billion takeover bid for its bitter rival, further extending a bruising battle that already has dragged on for more than 17 months.
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Calpers joins group of big PeopleSoft investors backing a $9.2 billion Oracle buyout.
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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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Oracle Corp. ORCL.O on Friday  said 61 percent of PeopleSoft Inc. PSFT.O shares were  tendered for its $24-a-share offer, strengthening Oracle's  hostile bid position as it waits to see if PeopleSoft's board  will remove the final barrier to a deal.
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PeopleSoft Inc. shares surged 15 percent as investors interpreted the ouster of the company&#39;s chief executive as a sign the company might now be willing to accept Oracle Corp.
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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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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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The investors have spoken and decided that Oracle buying PeopleSoft for $9.2bn in cash sounds like a pretty good deal. More than 60 percent of PeopleSoft investors tendered their shares to Oracle, giving the
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PeopleSoft Inc. (PSFT.O: Quote, Profile, Research) , which is trying to fight off a hostile takeover by rival Oracle Corp. (ORCL.O: Quote, Profile, Research) , on Friday said its board
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Oracle Relevant Products/Services from Oracle, backed by what the company views as a favorable response from PeopleSoft Latest News about PeopleSoft stockholders, is applying more pressure in an effort to complete its proposed US$9.2 billion hostile
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Oracle Corp. ORCL.O on Friday  won the backing of another key public pension fund in its  $8.8-billion hostile bid for PeopleSoft Inc. PSFT.O as the  17-month takeover battle between the two California-based  business software makers neared a key deadline.
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Software maker Oracle Corp.  ORCL.O on Wednesday said it will let PeopleSoft Inc. PSFT.O  shareholders decide for themselves whether to accept Oracle's  $8.8 billion hostile takeover bid after learning that  PeopleSoft's board of directors will reject it.
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Ohio&#39;s state pension fund said on Friday it will tender its 527,790 shares of PeopleSoft Inc. (PSFT.O: Quote, Profile, Research) , accepting Oracle Corp.