PeopleSoft, J.D. Edwards Try to Speed Merger

June 16, 2003

[From http://www.internetnews.com/]

PeopleSoft (Quote, Company Info) and J.D. Edwards (Quote, Company Info) Monday have amended their definitive merger agreement to speed up the deal in the wake of Oracle's $5.1 billion hostile takeover bid of PeopleSoft.

The boards of both companies, who believe the new deal will allay customers' fears after Oracle's offer, unanimously approved the amendment as Oracle takes to the road to convince shareholders that its offer of $16 a share for PeopleSoft is the better deal.

Oracle's bid has sent the market for enterprise applications, in which all parties compete, into a state of uncertainty while the three-way struggle plays out.

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