As antitrust investigators continue to evaluate its takeover bid, Oracle Corp. is once again giving PeopleSoft Inc. investors more time to tender their shares.
The deadline has been extended to midnight on Sept. 19. The offer would have expired on Aug. 15.
Thus far, stockholders have tendered 37,708,208 PeopleSoft shares, or roughly 10% of the outstanding stock.
"We are extending our offer for PeopleSoft and we remain fully committed to acquiring PeopleSoft," said Jim Finn, Oracle spokesman, in a statement.
This is the third time Oracle has extended its offer, which currently stands at $19.50 per share. If approved, the acquisition would cost Oracle $7.5 billion.
Last month PeopleSoft acquired midmarket competitor J.D. Edwards, making the Oracle takeover bid costlier.
Requires Free Membership to View
When you register, you'll begin receiving targeted emails from my team of award-winning editorial writers on the latest customer relationship management (CRM)and call center technology issues today. Our goal is to keep you informed on the hottest issues facing this fast-changing industry.
Hannah Smalltree, Editorial Director