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Posted Sep 4, 2003

Oracle Holds Second Town Hall Meeting

By Staff


For the second time in less than two months, Oracle (Quote, Company Info) held a Town Hall meeting to quell the fears of PeopleSoft (Quote, Company Info) shareholders who are concerned about the database giant's hostile takeover plans.

The Redwood Shores, Calif.-based firm is currently offering $7.5 billion for both Pleasanton, Calif.-based PeopleSoft and J.D. Edwards, which it fully acquired late last month. The Department of Justice is undergoing an antitrust review of Oracle's proposal.

Company executive Vice Presidents Chuck Phillips and Mike Rocha again sat in the hot seat Wednesday reading and answering about two-dozen questions sent via e-mail or on submitted during the webcast.

The pair reaffirmed that Oracle would have no problem supporting the two latest versions of PeopleSoft software, sustaining its customer relationships or honoring its current contracts. Oracle's integration roadmap was called into question when PeopleSoft supporters accused its rival's campaign as nothing short of "misleading."

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