Oracle vs PeopleSoft
p2pnet.net News:- Oracle really wants to own PeopleSoft.
But PeopleSoft doesn’t want to known and says on its site that its board, “unanimously recommended stockholders reject Oracle’s unsolicited offer to acquire PeopleSoft”.
However, yesterday, a federal judge ruled Oracle could, “go ahead with its $7.7 billion hostile takeover bid for rival PeopleSoft,” says the Seattle Times here, going on:
“The decision clears a hurdle for Oracle in its bid to consolidate power in a growing market where Microsoft and other software titans want to compete. Microsoft officials testified during the one-month trial in San Francisco, and part of the outcome hinged on whether Microsoft was actually competing in the same market as Oracle and PeopleSoft.”
The Justice Department and 10 states had sued to block Oracle, based in Redwood Shores, Calif., contending the deal would harm competition and allow Oracle to raise its prices, says the report.
PeopleSoft claims Oracle deliberately waged a campaign to mislead PeopleSoft’s customers and disrupt its business. It’s suing Oracle for more than $1 billion in punitive damages in a suit slated to start on November 1, it says on its site.
It also says a European Commission review of Oracles bid is “ongoing”.
