Oracle Prepared to Pay $7.5B for PeopleSoft

July 25, 2003

[From siliconvalley.internet.com]

Despite PeopleSoft's (Quote, Company Info) closure of its purchase of J.D. Edwards, Oracle remained undeterred by reaffirming its bid to buy the rival business software company and vowing to pay as much as an extra $1.2 billion for the combined firm.

According to a Thursday filing with the Securities and Exchange Commission (SEC), Oracle (Quote, Company Info) waived its stipulation that PeopleSoft not amend its merger proposal with Denver-based applications vendor J.D. Edwards, and acknowledged that a takeover of PeopleSoft would cost about $7.5 billion instead of its last estimate of $6.3 billion.

However, Oracle will still pay $19.50 per share. The extra fee stems from an additional 53 million shares PeopleSoft will issue with its $1.8 billion purchase of J.D. Edwards (Quote, Company Info).

The article continues at http://siliconvalley.internet.com/news/article.php/2240321