Oracle Extends Deadline for PeopleSoft

Monday Jul 7th 2003 by Staff

The DOJ's second request for information is having a snowball effect on Larry Ellison's quest to take over Craig Conway's assets.


Oracle (Quote, Company Info) Wednesday said it has to readjust its timeline a bit as part of its $6.3 billion take over bid for Pleasanton, Calif.-based PeopleSoft (Quote, Company Info).

The Redwood Shores, Calif.-based business software maker said it is extending the deadline on its latest offer for all of the common stock of PeopleSoft to midnight Eastern on Friday, July 18, 2003. The previously deadline was set to expire at midnight Eastern on Monday, July 7, 2003.

In a statement, Oracle said a total of 34,753,434 shares had been tendered in and not withdrawn from the offer as of the close of business on July 3, 2003.

The delay was expected considering a second round of inquiries by the Justice Department. The DOJ is trying to determine if it has an anti-trust case on its hands if Larry Ellison's company makes a stash and grab for PeopleSoft and its own potential $1.75 billion merger with JD Edwards (Quote, Company Info).

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