Oracle wins PeopleSoft shareholder vote
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PeopleSoft investors keep $9.2 billion bid in play, but the deal still faces hurdles.
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Finally! After 18 months, PeopleSoft Inc. has agreed to be acquired by Oracle Corp. for $26.50 a share in cash, or around $10.3 billion, after rebuffing several offers and being taken to court for instituting a controversial takeover defense.
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PeopleSoft board of directors might not be supporting it, but almost 60% of the shareholders have given their support to the Oracleâs bid to take over PeopleSoft.
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The European Commission approved Oracle&#39;s proposed $7.7 billion hostile takeover of rival software company PeopleSoft on Tuesday, knocking down the last competition hurdle to the deal.
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Oracle Corp. will win unconditional European Union approval for its $7.7 billion bid for PeopleSoft Inc., ending the longest-ever merger review by EU antitrust regulators, according to people familiar with the situation.
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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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European Union antitrust regulators on Tuesday cleared Oracle Corp.'s hostile $7.7 billion bid for rival business software maker PeopleSoft Inc., removing one of the last major hurdles to the contested takeover proposal.
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Oracle Corp. said on Wednesday it has  taken control of PeopleSoft Inc., now that about 75 percent of  shareholders of the rival software maker have tendered their  shares.
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PeopleSoft Inc. agreed to be bought by Oracle Corp. for $10.3 billion, giving up an 18-month battle that pitted PeopleSoft against its shareholders, drove away customers and led to the ouster of its chief executive.
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REDWOOD SHORES, Calif. -- Software giant Oracle Corp. said Wednesday that stockholders of rival PeopleSoft Inc. have tendered about 75 percent of the company&#39;s outstanding shares, granting Oracle control of the company.
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After an 18-month hostile takeover battle, Oracle has finally won control of rival PeopleSoft, creating the world&#39;s second-largest supplier of business management software applications.
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Oracle Corp. (ORCL.O: Quote, Profile, Research) said on Wednesday it has taken control of PeopleSoft Inc. (PSFT.O: Quote, Profile, Research) , now that about 75 percent of PeopleSoft&#39;s shareholders have tendered their shares.
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Oracle (Nasdaq: ORCL) finally has won control of PeopleSoft (Nasdaq: PSFT) after an 18-month takeover battle, making the Redwood Shores, California-based company the world's second-largest vendor of business management applications software.
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REDWOOD SHORES, California: Oracle Corporation announced that PeopleSoft stockholders have tendered approximately 75 percent of PeopleSoft outstanding stock, giving Oracle control of the company.
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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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EURO UNION antitrust regulators have given the thumbs up for Oracle to carry on with its hostile $7.7 billion bid to buy PeopleSoft.
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Oracle has won a round in its battle to take over rival PeopleSoft, as a Federal Court judge ruled that the acquisition does not violate antitrust regulations.