Oracle Prepared to Drop PeopleSoft Bid

Tuesday Nov 9th 2004 by DatabaseJournal.com Staff
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Court document says if PeopleSoft shareholders reject 'final and best offer,' Oracle will walk away from deal.

[From internetnews.com]

Oracle will drop its efforts to block PeopleSoft's defense to Oracle's hostile takeover bid if PeopleSoft's shareholders fail to tender a majority of their shares by Nov. 19, according to an Oracle letter sent to a Delaware court.

The development could lead to Oracle abandoning its hostile takeover bid for PeopleSoft.

The article continues at http://internetnews.com/ent-news/article.php/3432851

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