Oracle Takes Majority Control of PeopleSoft

Monday Jan 3rd 2005 by Staff

Three-quarters of PeopleSoft shareholders approve Oracle's $10.3B acquisition bid. Oracle wants 90 percent for total control.

[From internetnews]

Oracle has taken majority ownership of PeopleSoft after that company's stockholders tendered roughly 75 percent of their shares in favor of the $10.3 billion acquisition.

The news is a major step forward for Oracle, but the tender falls short of the 90 percent required for a total takeover. If Oracle fails to reach that mark, it will have to hold a special shareholder vote on the merger, delaying the deal's close by a month or more.

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