Oracle Makes Bid For Retek

Wednesday Mar 9th 2005 by Staff

And investors react like they expect SAP to counter.


Oracle (Quote, Chart) late Tuesday said it plans to offer $9 a share for Retek (Quote, Chart) in an effort to preempt the retail software company's acquisition by rival SAP (Quote, Chart).

"Oracle's applications business in North America is larger than SAP's," Oracle CEO Larry Ellison said in a statement. "We intend to defend our number one position."

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