PeopleSoft's Board Rejects Oracle's Latest Bid

June 20, 2003

[From internetnews.com]

PeopleSoft's (Quote, Company Info) board has voted unanimously to urge its stockholders to reject Oracle's (Quote, Company Info) improved takeover bid of $19.50 a share.

The response is the latest twist in an already-protracted, fierce power struggle for two rivals vying for the No. 2 pole position in the enterprise applications space. The fight began June 2 when PeopleSoft moved to merge with mid-market applications maker J.D. Edwards (Quote, Company Info), and heated up five days later when Oracle launched its surprise bid to acquire PeopleSoft, in a bid originally set at $16 a share.

Since then, Oracle, PeopleSoft and J.D. Edwards have launched a series of manuevers to thwart eachother's plans, including lawsuits and publicity campaigns.

The article continues at http://www.internetnews.com/ent-news/article.php/2225101








The Network for Technology Professionals

Search:

About Internet.com

Legal Notices, Licensing, Permissions, Privacy Policy.
Advertise | Newsletters | E-mail Offers