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Latest News

PeopleSoft fends off third Oracle buyout bid

by Personnel Today 28 May 2004
by Personnel Today 28 May 2004

Business
software group PeopleSoft has rejected the latest takeover bid from US rival
Oracle.

California-based
PeopleSoft described Oracle’s lowered hostile bid for the company as
"inadequate". Oracle dropped its cash offer by 19 per cent earlier
this month, to $7.7bn (£4.2bn), following a decline in PeopleSoft’s share
price.

PeopleSoft’s
board has already rejected three previous Oracle bids, including one offer at
$9.4bn.

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The
US authorities have called for an injunction to stop Oracle from buying PeopleSoft,
saying the takeover would curb choice in the market place and push up prices.

By Mike Berry

Personnel Today

Personnel Today articles are written by an expert team of award-winning journalists who have been covering HR and L&D for many years. Some of our content is attributed to "Personnel Today" for a number of reasons, including: when numerous authors are associated with writing or editing a piece; or when the author is unknown (particularly for older articles).

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