With Takeover Completed, Oracle Sends Layoff Notices
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One week after completing its takeover of PeopleSoft, Oracle began sending layoff notices to some of the 11,700 employees working at its former rival.
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SAN FRANCISCO/NEW YORK: Oracle said on Wednesday it has taken control of PeopleSoft, now that about 75% of shareholders of the rival software maker have tendered their shares.
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Software giant Oracle has finally taken control of rival PeopleSoft after an 18-month takeover battle. Wednesday, Oracle said that 75% of PeopleSoft shareholders have tendered their shares. That officially puts Oracle in charge, moving it one step closer to closing the contentious &#36;10.3 billion deal.
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Oracle&#39;s efforts to acquire the application vendor may be moving into its final phase as it calls its $24-per-share bid its &quot;final offer.
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PeopleSoft Inc.  on Monday agreed to a sweetened &#36;10.3 billion buyout by rival software maker Oracle Corp. , relenting after a 18-month takeover saga marked by personal insults, courtroom battles and the ouster of PeopleSoft's chief executive.
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Software giant Oracle has finally taken control of rival PeopleSoft after an 18-month takeover battle. Wednesday, Oracle said that 75% of PeopleSoft shareholders have tendered their shares.
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NEW YORK Oracle said on Wednesday that it had taken control of PeopleSoft, as holders of about 75 percent of the shares of the rival software maker had tendered their shares to Oracle.
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Oracle Corp. will fire 5,000 workers in the financial fallout from the business software maker's recently completed &#36;10.3 billion takeover of rival PeopleSoft Inc.
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That was the message sent by Oracle Corp. on Monday as the company made a &quot;best and final&quot; offer to take over PeopleSoft Inc.
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Though the long-running Oracle bid to acquire PeopleSoft finally achieved closure, solution providers on Monday had mixed reactions to the deal, expressing both hopes and fears about how it would impact the business applications market.
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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 shareholders of the rival software  maker have tendered their shares.
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NOVEMBER 01, 2004  - The end may be in sight in the ongoing saga of Oracle Corp.&#39;s hostile takeover bid for embattled competitor PeopleSoft Inc.
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Time to toss your PeopleSoft (nasdaq: PSFT - news - people ) contact list. Four executives at the software company have been replaced by counterparts from Oracle (nasdaq: ORCL - news - people ), which is wrapping
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PeopleSoft's firing of its president and chief executive increased the likelihood that the company would be taken over by the Oracle Corporation.
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Oracle Corp. has taken control of PeopleSoft Inc. , ending an 18-month fight and making Oracle the world's number two maker of business management software.
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SAN FRANCISCO - Oracle Corp. finally scooped up rival PeopleSoft Inc. after 18 months of legal and verbal strife, ending a feud with a $10.3 billion deal that promises to shake up the business software industry.
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Company announces an extension of its customer assurance program, a contract clause offered to firms concerned about Oracle's hostile takeover bid.