Oracle has brought an end to the hostilities in its bid to acquire rival PeopleSoft by sweetening its all-cash offer to $26.50 per share, up from a $24 bid that PeopleSoft's board had rejected as inadequate. The $10.3 billion deal will create the world's second largest maker of business applications software. The truce came just before the rivals were set to renew their battle in a Delaware trial focusing on an anti-takeover defense known as a poison pill.
December 13, 2004 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Ending 18 months of bad blood, Oracle Corp. raised its takeover bid for bitter rival PeopleSoft by 10 percent to seal a $10.3 billion deal that will create the world’s second largest maker of business applications software.
The agreement, announced Monday, caps a rancorous Silicon Valley feud marked by churlish exchanges between the companies’ management teams and colorful courtroom battles.
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