Oracle once again extends PeopleSoft offer |
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By Jon Panker, SearchCRM.com News Editor
08 Aug 2003 | SearchCRM.com |
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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.
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