PeopleSoft Capitulates, Falls to Oracle
PeopleSoft Capitulates, Falls to Oracle
by Maureen O'Gara
(December 13, 2004) - The PeopleSoft board, reports Maureen O'Gara, has agreed that the company be sold to Oracle for $10.3 billion $1.5 billion more than Oracle's now-famous "best and final" offer. "They came to a definite agreement last night," she writes, "hours before PeopleSoft was supposed to show up in Delaware Chancery Court today to explain what was wrong with Oracle's previous $24-a-share bid.".
Ellison Announces "There Will Be Job Losses"
As Oracle Gets PeopleSoft At Long Last - For $10.3 Billion
December 13, 2004, http://www.linuxworld.com/story/47415.htm
Summary
In an all-cash deal worth approximately $10.3 billion, Oracle is going to acquire 100% of PeopleSoft's shares, at a newly-increased price of $26.50, a $2.50 increase on its "best and final" offer which expired in November. PeopleSoft's board has approved the deal. "We believe this revised offer provides good value for PeopleSoft stockholders and represents a substantial increase in value from October," says the chairman of PeopleSoft's transaction committee, George "Skip" Battle. Says Oracle's Ellison: "Today we announced both a great quarter and the agreement to acquire PeopleSoft. This merger gives Oracle even more scale and momentum."
by Maureen O'Gara
(December 13, 2004) - The PeopleSoft board, reports Maureen O'Gara, has agreed that the company be sold to Oracle for $10.3 billion $1.5 billion more than Oracle's now-famous "best and final" offer. "They came to a definite agreement last night," she writes, "hours before PeopleSoft was supposed to show up in Delaware Chancery Court today to explain what was wrong with Oracle's previous $24-a-share bid.".
Ellison Announces "There Will Be Job Losses"
As Oracle Gets PeopleSoft At Long Last - For $10.3 Billion
December 13, 2004, http://www.linuxworld.com/story/47415.htm
Summary
In an all-cash deal worth approximately $10.3 billion, Oracle is going to acquire 100% of PeopleSoft's shares, at a newly-increased price of $26.50, a $2.50 increase on its "best and final" offer which expired in November. PeopleSoft's board has approved the deal. "We believe this revised offer provides good value for PeopleSoft stockholders and represents a substantial increase in value from October," says the chairman of PeopleSoft's transaction committee, George "Skip" Battle. Says Oracle's Ellison: "Today we announced both a great quarter and the agreement to acquire PeopleSoft. This merger gives Oracle even more scale and momentum."
posted by angelo @ 1:12 PM
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