Oracle extends its offer for PeopleSoft

Article

Oracle extends its offer for PeopleSoft

Jon Panker, SearchCRM.com News Editor

Oracle Corp. has once again extended its takeover deadline for PeopleSoft Inc., the fifth such extension since it launched its acquisition bid in early June.

More on the Oracle-PeopleSoft battle

Timeline:

    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

    By submitting your registration information to SearchCRM.com you agree to receive email communications from TechTarget and TechTarget partners. We encourage you to read our Privacy Policy which contains important disclosures about how we collect and use your registration and other information. If you reside outside of the United States, by submitting this registration information you consent to having your personal data transferred to and processed in the United States. Your use of SearchCRM.com is governed by our Terms of Use. You may contact us at webmaster@TechTarget.com.

Following the acquisitions trail

PeopleSoft investors now have until Dec. 31 to tender their shares. Previously, the deadline was Oct. 17.

The federal government continues to review Oracle's takeover attempt on antitrust grounds, and last week Oracle executive vice president Chuck Phillips said he doesn't expect a ruling until late November or early December.

"We are as committed today as we were when we first announced our offer in June and therefore extend our bid for PeopleSoft," Jim Finn, Oracle spokesperson, said in a statement.

Oracle may have to up the ante, however, if it's to be successful. Its current offer of $19.50 per share falls short of the $20.55 that PeopleSoft stock was trading at when the market closed Friday.

So far investors have tendered just 6.7% of the outstanding shares of PeopleSoft.

Related Topics: CRM industry news, VIEW ALL TAGS