Oracle's Back to Its Bidding Ways

March 18, 2005

[From internetnews.com]

The price of Retek has just gone up.

Oracle (Quote, Chart) late Thursday raised its tender offer for the retail software and services provider to $11.25 per share, hoping to spoil the acquisition plans of archrival SAP AG (Quote, Chart).

Earlier in the day, SAP increased its original bid to $11 per share, or an approximate offer of $629 million, to trump Oracle's $525 million counter-offer for Minnesota-based Retek.

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