Oracle Discounts PeopleSoft Bid

May 17, 2004

[From internetnews.com]

The price of purchasing PeopleSoft (Quote, Chart) just dropped by $1.7 billion, Oracle (Quote, Chart) executives said Friday.

The Redwood Shores, Calif.-based database software vendor said it has revised its tender offer for all of the outstanding shares of PeopleSoft to $21 per share, or approximately $7.7 billion. Previously, Oracle was prepared to shell out $26 per share, or $9.4 billion, for its rival.

The article continues at http://internetnews.com/ent-news/article.php/3354621