Judge rejects PeopleSoft class action settlement
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The Delaware judge overseeing the legal wrangling there between PeopleSoftÂ and hostile suitor OracleÂ rejected on Wednesday a settlement that PeopleSoft had arranged with a group of dissident shareholders.
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The Delaware judge overseeing the legal wrangling there between PeopleSoft (Profile, Products, Articles) and hostile suitor Oracle (Profile, Products, Articles) rejected on
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Peoplesoft rejects a takeover bid from rival Oracle for the sixth time in the last 18 months calling the offer "inadequate".
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By Bloomberg News. A judge dismissed a lawsuit against Lawrence J. Ellison, chief executive of the Oracle Corporation, and Jeffrey O. Henley, its chairman, that accused them of insider trading
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A federal judge may have sent a gift to all merger-minded U.S. executives when he rejected the government's request to block Oracle Corp.'s  bid for PeopleSoft Inc.  last week.
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Now that a judge has ruled against the federal government's effort to thwart Oracle's hostile bid for PeopleSoft over antitrust concerns, the tech sector could see a rash of acquisition attempts. -washingtonpost.com
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NOVEMBER 29, 2004  - Embattled ERP software vendor PeopleSoft Inc. last week refused to capitulate in its long-running battle with potential purchaser Oracle Corp.
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PeopleSoft (PSFT:Nasdaq - news - research) Wednesday publicly rejected Oracle&#39;s (ORCL:Nasdaq - news - research) $24-a-share takeover offer, saying the $8.
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SAN FRANCISCO - Business-software maker PeopleSoft said Saturday its board had again unanimously rejected Oracle&#39;s $9.2 billion tender offer as inadequate, a day after 61 percent of PeopleSoft shares were tendered to Oracle.
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Although Oracle still faces obstacles in its $7.7 billion hostile takeover bid, analysts said yesterday's court rejection of the U.S. Department of Justice's attempt to block the deal on antitrust grounds is a blow for PeopleSoft.
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Business software maker  PeopleSoft Inc. on Saturday said its board again rejected  Oracle Corp.'s $9.2 billion tender offer, remaining defiant a  day after most of its shares were tendered to Oracle.
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A federal bankruptcy judge in New York yesterday denied Enron Corp.&#39;s request to block a lawsuit by a federal agency seeking to take control of the company&#39;s pension plans.
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A federal judge Friday ruled against a proposed $6 million settlement between Dallas-based Halliburton and shareholders, CBSMarketWatch.
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PeopleSoft's board of directors rejected Oracle's &#36;9.2 billion takeover bid Wednesday, thrusting the business software maker's fate in the hands of its shareholders.
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The judge presiding over the U.S. Department of Justice's (DOJ) attempt to block Oracle Corp.'s proposed takeover of rival software maker PeopleSoft Inc. ruled in Oracle's favor on Thursday, removing one obstacle preventing the hostile acquisition.  The decision means Oracle's fifteen-month campaign to buy PeopleSoft through a $7.7 billion cash tender offer to PeopleSoft's shareholders will continue.  "Because plaintiffs have not shown by a preponderance of the evidence that the merger of Oracle and PeopleSoft is likely substantially to lessen competition in a relevant product and geographic market ... the court directs the entry of judgment against plaintiffs and in favor of defendant Oracle," U.S. District Court for the Northern District of California Judge Vaughn Walker wrote in his ruling.  The decision is a setback for PeopleSoft and a significant blow to the DOJ, but it's far from a green light for Oracle. From the start, the biggest obstacle to the deal has been PeopleSoft's "poison pill," an anti-takeover provision in its bylaws that allows it to manipulate its shares to make a hostile acquisition prohibitively expensive. Oracle is challenging the legality of PeopleSoft's poison pill; trial on that case is scheduled to commence Sept. 27 in Delaware's Court of Chancery.  Oracle in a first reaction to the ruling said that it removes a significant roadblock to the acquisition. "This decision puts the onus squarely on the board of PeopleSoft to meet with us and to redeem their poison pill so that the shareholders can accept our offer," Oracle Chairman Jeffrey Henley said in a statement.  However, Oracle also has to convince PeopleSoft's shareholders to take advantage of its buyout offer. The company is offering $21 per share. So far, only 21.7 million of PeopleSoft's shares, 6 percent of the company's outstanding total, had been tendered into Oracle's offer as of Aug 27. That percentage may rise with the DOJ's defeat, as shareholders anticipate a better chance Oracle's bid will be successful.  PeopleSoft's shares (PSFT) ended trading Thursday on the Nasdaq exchange at $17.95. The shares bounced up 15.26 percent in after-hours trading to $20.69.  Oracle and PeopleSoft also remain locked in another legal battle in California's Alameda County Superior Court, where PeopleSoft has charged Oracle with unfair business practices. Oracle countered with a complaint accusing PeopleSoft of illegally refusing to seriously evaluate Oracle's bid, and of improperly creating a "customer assurance program" that could make an Oracle acquisition of PeopleSoft very costly if Oracle. The case is schedule for trial in November.
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PeopleSoft Inc.'s board of directors said it rejected Oracle Corp.'s &#36;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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According to wire services, US District Judge Leonie Brinkema rejected a claim by auto insurance giant Geico, which argued that Google should not be allowed to sell ads to rival insurance companies that appear whenever Geico&#39;s name is typed into the