Microsoft said to nix PeopleSoft bid
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Microsoft&#39;s chief executive has ruled out acting as the white knight for business software maker PeopleSoft, which is trying to fight off a hostile takeover from Oracle, a newspaper reported Monday.
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PeopleSoft customers are unlikely to switch to a new software supplier following the company&#39;s acceptance of Oracle&#39;s $10.3bn takeover bid, say analysts.
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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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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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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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The Net giant's board has decided to formally reject Redmond's offer, The Wall Street Journal says. Move could be an effort to get Microsoft to substantially hike its offer.
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PeopleSoft Inc. (PSFT.O: Quote, Profile, Research) on Wednesday said its board had again unanimously rejected Oracle Corp.&#39;s (ORCL.
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A PeopleSoft Inc. (PSFT.O: Quote, Profile, Research) board member told a Delaware court on Tuesday that the software maker would consider a bid from its rival Oracle Corp.
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Oracle said today that it has learned that PeopleSoft will reject its $8.8bn, $24 a share, &quot;best and final&quot; cash tender offer.
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PeopleSoft&#39;s board unanimously rejected Oracle&#39;s $24-a-share offer as inadequate shortly after close of business in New York this evening.
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PeopleSoft Inc.'s board of directors said it rejected Oracle Corp.'s $9.2 billion takeover bid Saturday, continuing its staunch resistance a day after the company's own shareholders tendered more than 60 percent of stock to Oracle.
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Oracle Corp. on Monday again asked PeopleSoft Inc.'s board of directors to rescind an anti-takeover provision, as the two business software makers prepared to return to court this week to address one of the final barriers to the &#36;9.2-billion takeover bid.
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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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Oracle called on PeopleSoft&#39;s board to meet and close a deal over the weekend. The company had set Friday as the deadline for its tender offer, vowing to walk away from the transaction if investors
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The European commission has turned down the latest appeal from Microsoft for urgent talks on a negotiated settlement in their six-year battle over the software group&#39;s dominance of the market.
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Oracle Corp. on Monday said it  asked Peoplesoft Inc.'s board of directors to rescind an  anti-takeover provision, two days after a majority of  PeopleSoft shareholders tendered their stock in favor of  Oracle's $9.2 billion hostile offer.
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The board of PeopleSoft Inc. yesterday rejected Oracle Corp.'s &#36;24-a-share hostile takeover bid as too cheap, but said it was open to a deal at a higher price.