Oracle Prepared to Drop PeopleSoft Bid

November 9, 2004

[From internetnews.com]

Oracle will drop its efforts to block PeopleSoft's defense to Oracle's hostile takeover bid if PeopleSoft's shareholders fail to tender a majority of their shares by Nov. 19, according to an Oracle letter sent to a Delaware court.

The development could lead to Oracle abandoning its hostile takeover bid for PeopleSoft.

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