PeopleSoft 'Poison Pill' Hearing on Ice

Monday Nov 29th 2004 by Staff

A Delaware Chancery Court judge wants to hear PeopleSoft's board explain their decision to ignore Oracle's $24 per share offer.


UPDATED: A federal judge has postponed his decision on PeopleSoft's (Quote, Chart) last hostile takeover defense against Oracle (Quote, Chart) until next month.

Delaware Chancery Court Judge Leo Strine said he would need more information from both companies before rendering a decision on PeopleSoft's so-called "poison pill" and customer rebate provisions. The anti-takeover measures are designed to make it harder for Oracle to acquire PeopleSoft. The judge set aside Dec. 13 and 14 as possible hearing dates but did not say when he would render his decision.

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