Author: Melanie Hollands
On Nov. 1, Oracle Corp. announced its “best and final offer” for PeopleSoft and bumped up its bid for the rival software company by 14 percent from $21 per share to $24 per share. This new bid values PeopleSoft at $8.8 billion. Oracle had lowered its $26 per share bid (made on Feb. 4) to $21 on May 14, and this column commented on the turn of events on May 17. The raised tender bid comes only a week or so after Oracle had extended its tender offer on Oct. 21 for PeopleSoft to today.