Oracle makes final offer in PeopleSoft takeover bid

The end may be in sight in the ongoing saga of Oracle’s hostile takeover bid for business software rival, PeopleSoft.

Oracle has made what it called its “best and final offer” for PeopleSoft, raising its bid from US$21 (£11) to US$24 (£13) per share, and paring down the conditions it is stipulating for the deal. That puts the value of the new offer at US$9.2bn (£5bn).

The software provider said the offer, which expires on 19 November, would be its last bid for PeopleSoft.

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Following the European Commission’s decision not to block the proposed takeover, and the US Department of Justice’s failed bid to do so, Oracle called PeopleSoft’s board of directors its only obstacle to shareholders considering its offer.

If the deal goes ahead, it will create one of the largest providers of HR software in the world. It will also have implications for PeopleSoft users as Oracle has hinted in the past that it would largely cease active development of its rival’s portfolio.