Oracle to PeopleSoft: It's Your Best Deal

November 18, 2004


One day before its $9.2 billion offer to acquire rival PeopleSoft expires, Oracle (Quote, Chart) made another pitch to PeopleSoft's (Quote, Chart) shareholders in a bid to convince investors to take the deal.

In an open letter from Oracle Board Chairman Jeff Henley, Oracle attacked PeopleSoft's recent financial projections and noted that financial analysts, such as S.G. Cowen's Drew Brosseau, said PeopleSoft's Q4 and 2005 guidance suggests the company is trying to convince shareholders not to tender their shares.

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