The Register® — Biting the hand that feeds IT

PeopleSoft writes a letter

Please, please, please don't sell us to Larry...

Free whitepaper – Reliability analysis of the APC Symmetra MW Power System

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

Free whitepaper – Power and Cooling Capacity Management for Data Centers

Don’t Miss

QualcommQualcomm proffers first smartbook platform

Smartphone spliced with netbook, see

MicrosoftSuppliers fall over themselves to support Exchange 2010

New species spreads to four new environments

Logitech_logo_SMMouse maker spends big on video conferencing

Eeeek... how much?

NetListNetlist goes virtual and dense with server memory

So much for that Cisco UCS memory advantage