Oracle to complete PeopleSoft takeover by end of the year

December 22, 2004

Oracle expects to complete its $10.3 billion acquisition of business-software rival PeopleSoft by the end of next week and unveil a blueprint for the merged companies Jan. 14, Oracle Chief Executive Larry Ellison said in a letter to PeopleSoft employees.

Integration teams were already hard at work just days after the PeopleSoft board of directors agreed Dec. 12 to end the 18-month battle between the two companies and accept Oracle's offer of $26.50 a share.

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