December 13, 2004

It's a done deal: Oracle conquers PeopleSoft

Author: Melanie Hollands

Well, it happened. Oracle and PeopleSoft agree to merge in a deal worth $10.3 billion. Oracle raised its bid -- again -- to $26.50 per share, which is an 11 percent premium over the $23.80 close on Friday, Dec. 10, and 10 percent above Oracle's "best and final" offer of $24, announced on Nov. 1. (Oracle's offer price for PeopleSoft has gone up and down like a yo-yo since the first offer on June 3, 2003: from the original offer of $16 per share; then $19.50; then $26; then $19; then $24; and finally $26.5.)
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