Oracle's Back to Its Bidding Ways

March 18, 2005

The price of Retek has just gone up.

Oracle (Quote, Chart) late Thursday raised its tender offer for the retail software and services provider to $11.25 per share, hoping to spoil the acquisition plans of archrival SAP AG (Quote, Chart).

Earlier in the day, SAP increased its original bid to $11 per share, or an approximate offer of $629 million, to trump Oracle's $525 million counter-offer for Minnesota-based Retek.

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