Oracle makes last bid for PeopleSoft
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Posted in Applications, 2nd November 2004 08:53 GMT
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Oracle has dangled its "best and final" offer of $24 per share in front of PeopleSoft shareholders.
Oracle's latest bid for the software maker is a $3 hike over a previous offer and values PeopleSoft at just less than $9bn. Oracle has revised its purchase price for PeopleSoft numerous times over the past year and a half and once offered as much as $26 per share for the company. Enough, however, is enough in Larry Land.
"Our best and final offer is $24 per share, which we believe represents a substantial premium to the price at which those shares would trade were it not for Oracle's offer," said Jeff Henley, chairman at Oracle.
This latest offer will expire at midnight on 19 November. Oracle threatened that it will give up on its acquisition if PeopleSoft's shareholders don't tender at least half of the outstanding stock by that deadline.
Oracle appears to be feeling aggressive after the European Commission last week approved its takeover plan. ®
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