Oracle Makes Bid For Retek

March 9, 2005

Oracle (Quote, Chart) late Tuesday said it plans to offer $9 a share for Retek (Quote, Chart) in an effort to preempt the retail software company's acquisition by rival SAP (Quote, Chart).

"Oracle's applications business in North America is larger than SAP's," Oracle CEO Larry Ellison said in a statement. "We intend to defend our number one position."

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