Oracle increases i-flex offer
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(InfoWorld) - Oracle has increased the price it is willing to pay for an additional stake in i-flex solutions, a vendor of financial software in Mumbai, India. The move follows a period of sharp increases in company valuations on India's stock market, and Oracle may have felt that increasing its offer was necessary to make its offer more attractive for i-flex shareholders, analysts said. Oracle, of Redwood Shores, California, said Thursday said it has increased its offer price to 2,100 Indian rupees ($47) per share, including interest. The company also said that it has raisedÂ to about 35 percent the number of shares it has agreed to buy in the pending open offer to i-flex shareholders. The new open offer price is a 42 percent premium to the 1,475 rupees per share that Oracle first offered, and a 20 per cent premium to i-flex's closing stock price on Thursday of 1,751 rupees. Indian stock markets are booming, and investor expectations are high, said a financial analyst who declined to be named. Oracle may have not found sufficient support for the offer at its earlier price, he said. The price of i-flex's shares has risen by over 52 percent in the last six months. Oracle informed the Bombay Stock Exchange (BSE) in September that it intended to acquire an additional 20 percent of the equity of i-flex. It already holds a 55 percent stake in the company. Oracle would be paying about $531 million for the additional stake. Oracle subsequently delayed the open date of the offer from Nov. 6 to Dec. 4. In an statement to the BSE on Friday, i-flex said that Oracle had increased the number of shares it wanted to purchase in the open offer from the earlier 16.63 million to 28.39 million, representing 34.14 percent of the emerging voting capital. An i-flex spokeswoman declined to comment on the new offer. Oracle will be paying about $1.3 billion for the additional equity if its offer sails through. The open offer closes on Dec. 23.ADVERTISEMENTNEW IT SERVICES FROM IBM: EASIER TO BUY AND IMPLEMENTDiscover a simpler, more cost-effective way to get the solutions your company needs to grow more flexible and efficient.
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Company adds to Flex, its Flash server software for Java developers.
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Oracle Corp. extended its hostile bid for PeopleSoft Inc. for the 12th time, pushing the tender offer through Oct. 8.
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The increase resulted from a sharp rise in sales in its business software unit, the company said.
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SAN FRANCISCO - Oracle has reported a 16 per cent rise in quarterly net income as the world&#39;s second-largest software company benefited from steady demand for its flagship database software.
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Oracle Corp. CEO Larry Ellison raised his company&#39;s offer for rival PeopleSoft Inc. to $24 a share, or $9.2 billion, calling the fifth bid over a 17-month takeover battle the &quot;best and final&quot; offer.
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Oracle says its latest bid to purchase PeopleSoft is its &quot;best and final offer.&quot; At $24 per share, Oracle&#39;s offer is higher than PeopleSoft&#39;s 24-week high.
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Apple&#39;s appeal to enterprise and high-end computing grew yesterday when Oracle announced its support and use of Xserves internally.
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Oracle's $7.7 billion takeover offer for PeopleSoft has been extended several times already and was set to expire today.
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Oracle Corp. , the largest database software maker, said on Thursday it would buy Hyperion Solutions Corp.  for $3.3 billion to boost its position in the fast-growing market for performance management software.
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Oracle Corp. has again extended its $7.7 billion cash offer for PeopleSoft Inc. by two weeks. Shareholders now have until Oct. 22 to tender their shares, Oracle said Thursday.
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Oracle announced Monday that it has increased its PeopleSoft takeover bid to US$24 a share, calling the figure its &quot;best and final&quot; offer for its rival.
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SEPTEMBER 06, 2004  - As part of an ongoing upgrade of its E-Business Suite 11i business applications, Oracle Corp.
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Oracle yesterday sweetened its hostile bid for rival business software maker PeopleSoft to $9.2 billion, a 14 percent increase aimed at resolving the long-running takeover battle between the bitter foes.
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Updated: Oracle receives tender offers for more than 60 percent of the outstanding PeopleSoft shares and calls for talks to reach a formal buyout agreement.
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Oracle Corp. (ORCL.O: Quote, Profile, Research) on Monday raised its hostile takeover offer for rival software company PeopleSoft Inc.
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In the ongoing takeover drama, Oracle Corporation announced today that it is improving its tender offer for all the common stock of PeopleSoft, Inc.