PeopleSoft board rejects Oracle bid
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PeopleSoft's board turns down Oracle's "best and final" offer. But the database software giant is still on the prowl.
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The directors of software firm Peoplesoft reject a fifth takeover offer from rival Oracle, decribing the $8.8bn bid as inadequate.
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PLEASANTON, California - PeopleSoft Inc.&#39;s board yesterday rejected Oracle Corp.&#39;s $9.2 billion takeover bid, continuing its resistance after the company&#39;s own shareholders tendered more than 60 percent of their stock to Oracle.
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(SAN FRANCISCO) - PeopleSoft is asking its shareholders to reject what Oracle calls its &quot;best and final offer&quot; to buy the company.
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Oracle will try to prove that PeopleSoft's directors acted irresponsibly in rejecting Oracle's $7.7 billion tender offer.
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Peoplesoft rejects a takeover bid from rival Oracle for the sixth time in the last 18 months calling the offer "inadequate".
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PeopleSoft Inc.&#39;s board of directors urged company shareholders on Wednesday to reject Oracle Corp.&#39;s bid of $24 per share for the Pleasanton firm, casting more uncertainty on the 17-month takeover battle.
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PeopleSoftâs board unanimously rejected Wednesday Oracleâs âbest and final bidâ of $24 a share claiming that the $8.8-billion hostile tender offer undervalued the company.
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American software giant PeopleSoft remained defiant against Oracle&#39;s hostile $9.2billion (Â£5billion) bid yesterday despite PeopleSoft shareholders backing the offer over the weekend.
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Software maker Oracle Corp.  on Wednesday said it will let PeopleSoft Inc.  shareholders decide for themselves whether to accept Oracle's &#36;8.8 billion hostile takeover bid after learning that PeopleSoft's board of directors will reject it.
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While it has so far rejected each of Oracle&#39;s takeover offers, PeopleSoft&#39;s board of directors is willing to talk about a deal at the right price, a member of PeopleSoft&#39;s board said on October 5. On the stand
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PeopleSoft&#39;s (PSFT) board Wednesday rejected Oracle&#39;s (ORCL) &quot;best and final&quot; hostile takeover bid worth about $8.
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While it has rejected each of Oracle Corp.'s takeover offers today, PeopleSoft's board of directors is willing to talk about a deal at the right price, a member of the company's board said today.
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That sentiment came after PeopleSoft&#39;s board rejected Oracle&#39;s latest offer for the company, which amounted to USD24 per share.
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Oracle called on PeopleSoft&#39;s board to meet and close a deal over the weekend. The company had set Friday as the deadline for its tender offer, vowing to walk away from the transaction if investors
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PLEASANTON, Calif. PeopleSoft&#39;s board of directors said it srejected Oracle Corp.&#39;s nine-point-two (b) billion dollar takeover bid Saturday.
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A federal judge on Thursday rejected the government's attempt to block Oracle Corp.'s &#36;7.7 billion takeover bid for rival PeopleSoft Inc., concluding a combination between the business software makers wouldn't throttle competition in a narrow market niche.