Feeds

PeopleSoft says 'Yes' to $10bn Oracle offer

Lawsuits put on hold

  • alert
  • submit to reddit

SANS - Survey on application security programs

PeopleSoft has at last accepted Oracle's offer to buy the company in a deal that values it at about $10.3bn. At $26.50 per share, the offer was noticeably higher that the "best and final offer" of $24 per share that Peoplesoft rejected in November.

Oracle says the sale has been approved by both companies' boards of directors. Oracle boss Larry Ellison expects the deal to close in January.

Legal wranglings between the two firms have also been put on hold, PeopleSoft said, and will be dismissed once the deal is finalised.

When PeopleSoft rid itself of CEO Craig Conway, it was widely expected that the company would accept an offer from Oracle. In rejecting the $24 per share offer, new CEO David Duffield said the deal undervalued his company, but added that he was taking the bid seriously.

In a statement issued this morning, Peoplesoft's chairman George Battle described the battle for his company as "long and emotional". He said: "After careful consideration, we believe this revised offer provides good value for PeopleSoft stockholders and represents a substantial increase in value from October."

Ellison said the deal would add about one cent per share to its Q4 results, and around two cents per quarter in its 2006 financial year. ®

The PeopleSoft vs. Oracle clash: a Register history

Related stories

PeopleSoft customers learning to love Oracle
Oracle plots PeopleSoft board takeover
Oracle must wait for poison pill decision
PeopleSoft holds firm
It's War! - PeopleSoft investors side with Oracle

3 Big data security analytics techniques

More from The Register

next story
Ubuntu 14.04 LTS: Great changes, but sssh don't mention the...
Why HELLO Amazon! You weren't here last time
This time it's 'Personal': new Office 365 sub covers just two devices
Redmond also brings Office into Google's back yard
Next Windows obsolescence panic is 450 days from … NOW!
The clock is ticking louder for Windows Server 2003 R2 users
Half of Twitter's 'active users' are SILENT STALKERS
Nearly 50% have NEVER tweeted a word
OpenBSD founder wants to bin buggy OpenSSL library, launches fork
One Heartbleed vuln was too many for Theo de Raadt
Got Windows 8.1 Update yet? Get ready for YET ANOTHER ONE – rumor
Leaker claims big release due this fall as Microsoft herds us into the CLOUD
Microsoft TIER SMEAR changes app prices whether devs ask or not
Some go up, some go down, Redmond goes silent
Batten down the hatches, Ubuntu 14.04 LTS due in TWO DAYS
Admins dab straining server brows in advance of Trusty Tahr's long-term support landing
Red Hat to ship RHEL 7 release candidate with a taste of container tech
Grab 'near-final' version of next Enterprise Linux next week
prev story

Whitepapers

Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.