Oracle Takes Majority Control of PeopleSoft

January 3, 2005

Oracle has taken majority ownership of PeopleSoft after that company's stockholders tendered roughly 75 percent of their shares in favor of the $10.3 billion acquisition.

The news is a major step forward for Oracle, but the tender falls short of the 90 percent required for a total takeover. If Oracle fails to reach that mark, it will have to hold a special shareholder vote on the merger, delaying the deal's close by a month or more.

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