PeopleSoft Rejects Latest Oracle Bid as Inadequate
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PeopleSoft's rejection puts the company's fate in the hands of its shareholders and shows that its new management team intends to continue to fight the merger with Oracle.
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Lawrence Ellison, Oracle's chief executive, said the company could lower the $21-a-share bid Oracle is offering for rival PeopleSoft.
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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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On 26 October 2004, the EC unconditionally approved Oracle&#39;s proposed $7.7 billion bid for PeopleSoft. PeopleSoft continues to resist Oracle&#39;s unsolicited bid.
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The standoff between Oracle and PeopleSoft is once again at an impasse, as PeopleSoft&#39;s board refuses to sell the company at the price Oracle has offered, and Oracle refuses to raise its bid.
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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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Oracle dislikes what PeopleSoft is doing, but it's still buying.
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PeopleSoft shareholders have rejected Oracle&#39;s &quot;final&quot; offer for the company, but could Oracle make a comeback? The board is hoping it can hold off its rival for just a few more innings.
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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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The standoff between Oracle and PeopleSoft is once again at an impasse, as PeopleSoft's board refuses to sell the company at the price Oracle has offered, and Oracle refuses to raise its bid.
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PeopleSoft customers are unlikely to switch to a new software supplier following the company&#39;s acceptance of Oracle&#39;s $10.3bn takeover bid, say analysts.
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Oracle Corp. said it was prepared to walk away from its bid for rival business software maker PeopleSoft, saying it had learned that its &quot;final&quot; offer was on the verge of being rejected.
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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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PLEASANTON, California The board of directors of PeopleSoft has rejected Oracle&#39;s $9.2 billion takeover bid, continuing its resistance a day after the company&#39;s own shareholders tendered more than 60 percent of stock to Oracle.
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The PeopleSoft board has rejected Larry Ellison &quot;best and final&quot; $8.8 billion hostile takeover offer, leaving the Oracle chief executive with no choice but to appeal directly to PeopleSoft shareholders.
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PeopleSoft Inc.&#39;s board of directors said Saturday it will not accept Oracle Corp.&#39;s bid to buy the company for $24 per share, even after 61 percent of the Pleasanton firm&#39;s investors endorsed the offer.
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In the final days before shareholders decide on Oracle's takeover bid for rival software maker PeopleSoft,  PeopleSoft is bracing for the worst. Oracle officials say they won't know until shortly before a  Nov. 19 deadline if a majority of PeopleSoft shareholders support the &#36;8.8 billion offer.