Feeds

PeopleSoft says 'Yes' to $10bn Oracle offer

Lawsuits put on hold

  • alert
  • submit to reddit

Beginner's guide to SSL certificates

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

Protecting users from Firesheep and other Sidejacking attacks with SSL

More from The Register

next story
New 'Cosmos' browser surfs the net by TXT alone
No data plan? No WiFi? No worries ... except sluggish download speed
'Windows 9' LEAK: Microsoft's playing catchup with Linux
Multiple desktops and live tiles in restored Start button star in new vids
iOS 8 release: WebGL now runs everywhere. Hurrah for 3D graphics!
HTML 5's pretty neat ... when your browser supports it
Mathematica hits the Web
Wolfram embraces the cloud, promies private cloud cut of its number-cruncher
Mozilla shutters Labs, tells nobody it's been dead for five months
Staffer's blog reveals all as projects languish on GitHub
'People have forgotten just how late the first iPhone arrived ...'
Plus: 'Google's IDEALISM is an injudicious justification for inappropriate biz practices'
SUSE Linux owner Attachmate gobbled by Micro Focus for $2.3bn
Merger will lead to mainframe and COBOL powerhouse
iOS 8 Healthkit gets a bug SO Apple KILLS it. That's real healthcare!
Not fit for purpose on day of launch, says Cupertino
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.