Oracle's 'Final' PeopleSoft Offer Rejected

Wednesday Nov 10th 2004 by DatabaseJournal.com Staff
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The decision puts the hostile takeover battle in the hands of the enterprise software maker's shareholders.

[From internetnews.com]

The battle for PeopleSoft now goes to the stockholders.

PeopleSoft's (Quote, Chart) board of directors voted unanimously to recommend that its stockholders reject Oracle's final, $24 per share takeover offer because it does not reflect PeopleSoft's "real value."

The decision leaves the hostile takeover battle for PeopleSoft in the hands of stockholders as Oracle looks for a majority to accept the offer, which values the company at about $8.8 billion.

The article continues at http://www.internetnews.com/ent-news/article.php/3434141

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