Oracle Secures Nearly 61% PeopleSoft Shareholder Backing
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Oracle has won backing from slightly more than 60% of PeopleSoft Inc. shareholders in its $9.2 billion hostile takeover. Friday evening, the software maker announced that 228.7 million out of the roughly 376
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S&amp;P Equity Research maintained ratings for PeopleSoft (nasdaq: PSFT - news - people ) and Oracle (nasdaq: ORCL - news - people ). On Saturday, 61% of PeopleSoft shareholders tendered their stock in favor of Oracle&#39;s offer of $24 a share for 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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Oracle Corp.  on Monday said rival business software maker PeopleSoft Inc.'s  board has accepted a sweetened purchase offer of about &#36;10.3 billion, ending a long and bitter hostile takeover battle.
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Business software maker Oracle on Tuesday promised to do everything it can to keep PeopleSoft&#39;s giant customer base, whose departure could threaten the financial success of its proposed $9.2bn takeover of the company.
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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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Oracle Corp. sent yet another letter to PeopleSoft Inc.&#39;s board of directors on Monday morning, pointing out that a majority of PeopleSoft&#39;s owners are prepared to sell at $24 per share and requesting once
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PeopleSoft&#39;s shares were up 10.6 percent at $22.98 late into Monday&#39;s trading session. Oracle shares rose 10 cents to $12.
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Oracle says PeopleSoft stockholders tendered more than 60 percent of the company&#39;s outstanding shares as of midnight Friday, and that it plans to move forward with its proposed hostile takeover.
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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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PeopleSofts shareholders tendered 60.8% of their shares to Oracle on November20th, which in TBRs (Technology Business Research) opinion makes this acquisition approximately 95% plausible.
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Oracle Corp. Chief Executive Officer Larry Ellison won PeopleSoft Inc. investors&#39; backing for his $8.8 billion bid to buy the software maker, a victory that brings him a step closer to winning the 17-month hostile takeover fight.
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Oracle Corp. Friday said 61  percent of PeopleSoft Inc. shares were tendered for its  $24-a-share offer, strengthening Oracle's hostile bid position  as it waits to see if PeopleSoft's board will remove the final  barrier to a deal.
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NOVEMBER 20, 2004 (IDG NEWS SERVICE) - A majority of PeopleSoft Inc.&#39;s shareholders gave Oracle Corp. the green light to continue its hostile bid for control of the company, tendering more than 60 percent
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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 Corp. ORCL.O on Friday  said 61 percent of PeopleSoft Inc. PSFT.O shares were  tendered for its $24-a-share offer, strengthening Oracle's  hostile bid position as it waits to see if PeopleSoft's board  will remove the final barrier to a deal.
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The European Commission on Tuesday approved Oracle Corp.'s  proposed &#36;7.7 billion hostile takeover of rival business software company PeopleSoft Inc. , clearing the last antitrust hurdle to the deal.