PeopleSoft Rejects Oracle Bid
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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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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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The board of software vendor PeopleSoft has advised shareholders to reject Oracle&#39;s takeover bid for a fifth time, pushing the long-running saga closer towards a proxy battle next Spring.
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The software maker has indicated it could abandon the hunt for PeopleSoft if it does not win support for a tender offer.
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To probably no one&#39;s surprise, the PeopleSoft board again has rejected Oracle&#39;s $9.2 billion bid for the company as insufficient.
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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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PeopleSoft Inc. Chief Executive David Duffield resisted pressure to open talks with Oracle Corp. after shareholders voted to support Oracle&#39;s $8.8 billion takeover bid.
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PeopleSoftâs board unanimously rejected Wednesday Oracleâs âbest and final bidâ of $24 a share claiming that the $8.8-billion hostile tender offer undervalued the company.
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Pleasanton based Peoplesoft says its board remains convinced that Oracleâs $24 a share bid is inadequate and the board says it will not sell the company for less than itâs worth.
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Senior executives at business software group PeopleSoft unanimously recommended that its shareholders reject a 8.8 billion dollar takeover bid from Oracle Corp, PeopleSoft said in a statement Wednesday.
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Oracle Corp. recently learned that PeopleSoft will reject Oracle&#39;s $24.00 a share- its best and final offer. The cash tender offer to purchase all of the outstanding shares of PeopleSoft, Inc.
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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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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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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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PLEASANTON, California - PeopleSoft Inc.&#39;s board yesterday rejected Oracle Corp.&#39;s $9.2 billion takeover bid, continuing its resistance after the company&#39;s own shareholders tendered more than 60 percent of their stock to Oracle.
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Judge rejects Justice Department charges, allowing Oracle's hostile bid for PeopleSoft to continue.
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NEW YORK, October 8  - Oracle Corporation (ORCL.NAS) is considering altering its takeover bid for the rival business software company, PeopleSoft, with discussions leaning towards a potential decline in the current offer of $7.