As software world awaits ruling, Oracle extends offer

Oracle has once again extended its offer for PeopleSoft investors to tender their stock.

With the future of its $7.7 billion takeover attempt of PeopleSoft Inc. resting in the hands of a federal judge,...

Oracle Corp. is once again extending its tender offer for investors to tender their shares.

The extension, announced Thursday, gives shareholders until Sept. 10. Oracle is offering them $21 per share.

The previous offer was set to expire at midnight Friday. To date, approximately 6% of the outstanding PeopleSoft shares have been tendered and not withdrawn. Oracle lowered its offer from $26 per share to $21 in May.

Redwood Shores, Calif.-based Oracle has regularly extended the tender offer since it first announced the takeover attempt of Pleasanton, Calif.-based PeopleSoft more than a year ago.

The government filed suit to block the takeover, arguing it would be anti-competitive. A month-long trial over the matter ended in July. U.S. District Court Judge Vaughn Walker is expected to rule on the case before the end of September, though a decision could come as soon as this week.

PeopleSoft shares opened Friday on the New York Stock Exchange at $17.25.

FOR MORE INFORMATION:

Read about PeopleSoft's most recent quarterly earnings

Learn more about the takeover attempt

Dig Deeper on Sales strategy and sales force effectiveness

PRO+

Content

Find more PRO+ content and other member only offers, here.

Start the conversation

Send me notifications when other members comment.

By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy

Please create a username to comment.

-ADS BY GOOGLE

SearchBusinessAnalytics

SearchDataManagement

SearchSAP

SearchOracle

SearchAWS

SearchContentManagement

SearchSalesforce

Close