Oracle Rivals Rail Against PeopleSoft Bid
June 9, 2003[From internetnews.com]
Enterprise software providers struck back at Oracle (Quote, Company Info) Monday, calling the database provider's surprise $5.1 billion cash offer to buy rival enterprise software company PeopleSoft (Quote, Company Info) a power play to be resisted.
"I believe an Oracle acquisition of PeopleSoft raises such serious antitrust problems that it will face months of investigation by both the United States Department of Justice and the European Commission," said Bob Dutkowsky, president, CEO and chairman of J.D. Edwards, an enterprise software provider that PeopleSoft planned to acquire before Oracle made its bid.
The response followed Oracle's (Quote, Company Info) $16 per share bid for PeopleSoft on Friday, which sent shockwaves through the software industry and prompted PeopleSoft CEO Craig Conway to blast the offer as "atrociously bad behavior from a company with a history of atrociously bad behavior."
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