Oracle Requests Confab With PeopleSoft Board, CEO

June 9, 2003

[From Internet Week]

Redwood Shores, Calif. -- Oracle CEO Larry Ellison wants to sit down with PeopleSoft's board, and he's not kidding around, according to a letter Oracle released Monday.

Oracle Friday launched a so-far hostile takeover attempt to acquire PeopleSoft, and Ellison, in his letter to PeopleSoft CEO Craig Conway, requested a confab with PeopleSoft's board. Oracle offered $5.1 billion in cash ($16 per share) for PeopleSoft just four days after PeopleSoft announced its plans to buy J.D. Edwards in a $1.7 billion stock deal.

The tone of Ellison's letter was stern.

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