Oracle and PeopleSoft: No Solution in Sight

Oracle and PeopleSoft: No Solution in Sight

PeopleSoft owners are not backing down to the pressures from Oracle. Oracle has asked them to accept the offer they gave to the shareholders of USD24 per share.

Oracle’s chairman told media that most of the shareholders are ready to sell the shares at specified prices and they are requesting the board to exempt the transaction under Delaware Section 203 and allow the shareholders to sell the company they own.

The offer as per Oracle is higher than what they would consider a fair value as per the market rates of the share. And the extra price they are willing to pay should be enough incentive for the PeopleSoft directors to back down.

PeopleSoft’s A. George Battle told media that they are ready to take the offer but not at the prices, Oracle has offered. Oracle’s lawyers are moving to courts in Delaware to ask a judge to invalidate PeopleSoft’s antitakeover defense.