Oracle to PeopleSoft: It's Your Best Deal

Thursday Nov 18th 2004 by Staff

In an open letter, Oracle calls its offer for applications rival PeopleSoft in shareholders' best interest.


One day before its $9.2 billion offer to acquire rival PeopleSoft expires, Oracle (Quote, Chart) made another pitch to PeopleSoft's (Quote, Chart) shareholders in a bid to convince investors to take the deal.

In an open letter from Oracle Board Chairman Jeff Henley, Oracle attacked PeopleSoft's recent financial projections and noted that financial analysts, such as S.G. Cowen's Drew Brosseau, said PeopleSoft's Q4 and 2005 guidance suggests the company is trying to convince shareholders not to tender their shares.

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