Oracle Ups PeopleSoft Offer

Monday Nov 1st 2004 by Staff

In what it calls a final offer, Oracle raises its bid for PeopleSoft to $24 per share and drops most acquisition conditions.


Oracle (Quote, Chart) issued a final $24 per share offer for PeopleSoft (Quote, Chart), gearing up for a final run at the elusive enterprise applications company it has been trying to acquire since June 2003.

The revised offer is up $3 per share from the most recent offer and is 60 percent higher than the closing price of PeopleSoft stock on the day before Oracle's original bid. Oracle was buoyed by last week's vote by the European Commission to clear its offer.

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