Oracle May Drop PeopleSoft Bid
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Oracle Corp.'s hostile &#36;7.7 billion bid for rival software maker PeopleSoft Inc. could drop by one-third to one-fourth, Oracle co-president Safra Catz said Monday.
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Oracle co-president Safra Catz said today Oracle's hostile $7.7 billion bid for PeopleSoft could drop by one-third to one-fourth.
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PeopleSoft board members on Wednesday rejected Oracle&#39;s &quot;best and final&quot; offer in the often contentious 17-month hostile takeover battle--but the database software giant remains on the hunt.
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Oracle is concerned PeopleSoft customers might abandon maintenance contracts that could help it spend more on new software products to compete with SAP AG, the world's biggest business software maker.
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NOVEMBER 22, 2004 (IDG NEWS SERVICE) - PeopleSoft Inc. won&#39;t discuss a sale to Oracle Corp. for a price of $24 per share, the company&#39;s board of directors told Oracle CEO Larry Ellison in a letter on Saturday.
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Peoplesoft Inc does not believe Oracle Corp will back away if shareholders refuse what Oracle has stated is its last and best offer, and it is taking steps to engage in a proxy war next spring if need be.
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Senior executives at business software group PeopleSoft have once again spurned a takeover bid from Oracle Corp, even after the latter announced it had control of more than 60 percent of PeopleSoft&#39;s shares.
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An attorney for Oracle Corp. says the company will abandon its legal challenge to PeopleSoft Inc.'s antitakeover protections if shareholders fail to tender a majority of their shares by a Nov. 19 deadline.
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Oracle Corp., bidding $8.8 billion for PeopleSoft Inc., will drop a court battle to strike down PeopleSoft&#39;s takeover defenses unless 50 percent of shares are tendered by Nov. 19.
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With Oracle&#39;s (ORCL:Nasdaq - news - research) $24-a-share offer for PeopleSoft (PSFT:Nasdaq - news - research) set to expire late Friday night, the database giant has thrown cold water on the notion that the price could go higher.
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Oracle Corp. on Thursday said in a letter to PeopleSoft Inc. stockholders that it would withdraw its hostile takeover bid if less than half of PeopleSoft shares were tendered by the offer's deadline.
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PeopleSoft (PSFT:Nasdaq - news - research) Wednesday publicly rejected Oracle&#39;s (ORCL:Nasdaq - news - research) $24-a-share takeover offer, saying the $8.
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The ouster of Craig Conway and the return of Dave Duffield could be a prelude to PeopleSoft accepting Oracle's offer.
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PeopleSoft's board rejects Oracle one last time. Or does it?
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Oracle Corp. chief executive Larry Ellison testified yesterday that the business software maker is leaning toward lowering its $7.7 billion bid for rival PeopleSoft Inc. , a shift that might create another snag in the takeover tug-of-war.
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Oracle Corp.'s hostile $7.7 billion bid for rival software maker PeopleSoft Inc. could drop by one-third to one-fourth, Oracle co-president Safra Catz said Monday.
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Oracle Corp. CEO Larry Ellison testified yesterday that the business software maker is leaning toward lowering its $7.7 billion bid for rival PeopleSoft