PeopleSoft writes a letter
PrintPlease, please, please don't sell us to Larry...
Posted in Hardware, 24th February 2004 09:55 GMT
Free whitepaper – Selecting an Industry-Standard Metric for Data Center Efficiency
Peoplesoft is writing to all its shareholders urging them to oppose the takeover attempt by Larry Ellison and Oracle.
The letter, sent out yesterday, asks shareholders to vote in favour of the nominees to the board and to reject Oracle's proposed takeover. Oracle is trying to get five new board members elected in order to push through the deal.
The letter, signed by PeopleSoft president Craig Conway, tells shareholders: "The future of your company and the value of your investment are at stake. We urge you to act now to protect the value of your shares by voting for the existing board nominees. Sign, date and return the enclosed WHITE proxy card. Please discard any blue proxy cards that you may receive from Oracle."
Conway says the deal undervalues PeopleSoft - and claims the company share price would be trading higher except for uncertainty created by the attempted takeover.
The fate of PeopleSoft should be decided at the Annual Meeting of shareholders which will be held on 25 March. ®
Related stories
Ellison appeals direct to PeopleSoft shareholders
'It was all Craig Conway's idea anyway'-Oracle
Peoplesoft spurns Oracle's final final offer
Analyst Keynote: The Register Agile Data Center Summit
Thermal design of the Dell PowerEdge T610, R610, and R710 servers
Seven ways to lower storage costs
Best practices for optimizing performance and availability in virtual infrastructures
A cost-benefit analysis of the IBM CoD cloud offering
Exanet exit-bound despite Dell's efforts
Apple said to snub Intel's next-gen mobile chip
Micron lights touchpaper on flash rocket
Super Micro primes 'Magny-Cours' Opterons