Hostile takeover? Oracle offers to buy PeopleSoft

(Redwood Shores, California-AP) -- There&#39;s a hostile takeover effort under way in the software industry.<br><br>Oracle is offering 5.1 billion dollars to purchase PeopleSoft.<br><br>Oracle is the world&#39;s

Friday, June 6th 2003, 12:00 am

By: News On 6


(Redwood Shores, California-AP) -- There's a hostile takeover effort under way in the software industry.

Oracle is offering 5.1 billion dollars to purchase PeopleSoft.

Oracle is the world's largest enterprise software company. Its offer is worth 16 dollars a share for PeopleSoft, which creates business software programs. PeopleSoft shares closed yesterday at 15 dollars, eleven cents apiece.

On Monday, PeopleSoft said it was buying rival JD Edwards in a 1.5 billion-dollar stock swap. Oracle says once its acquisition of PeopleSoft is complete, it will review that transaction.
logo

Get The Daily Update!

Be among the first to get breaking news, weather, and general news updates from News on 6 delivered right to your inbox!

More Like This

June 6th, 2003

March 14th, 2024

December 4th, 2023

September 25th, 2023

Top Headlines

March 28th, 2024

March 28th, 2024

March 28th, 2024

March 28th, 2024