Oracle Wins in Bid For Retek

March 22, 2005

[From internetnews.com]

Oracle Corporation (Quote, Chart) won the bidding battle for retail software specialist Retek (Quote, Chart) with an offer of $11.25 per share after rival SAP dropped out of the bidding competition for the Minnesota-based company.

The deal's value is estimated to be about $630 million, based on Retek's estimated 56 million outstanding shares, and gives Oracle an even stronger position in the retail applications market.

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