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Posted Nov 24, 2003

Oracle Preps For PeopleSoft Proxy War

By Staff


Despite pending government investigations, Oracle (Quote, Chart) Monday said it remains very firm in its proposal to purchase PeopleSoft (Quote, Chart) for $19.50 per share or about $7.5 billion.

During a conference call designed to combat what it called "conflicting information" about the merger, the Redwood Shores, Calif.-based software giant said it is looking beyond possible government interdiction and preparing a slate of new directors that it hopes will help its chances should a proxy war break out.

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