Ellison Not Backing Down on PeopleSoft Bid

 
 
By Lisa Vaas  |  Posted 2003-06-17 Email Print this article Print
 
 
 
 
 
 
 

Following PeopleSoft Inc.'s announcement on Monday that it had amended its merger agreement with J.D. Edwards & Co., Oracle Corp. CEO Larry Ellison vowed to steam ahead with Oracle's hostile takeover bid.

Following PeopleSoft Inc.s announcement on Monday that it had amended its merger agreement with J.D. Edwards & Co., Oracle Corp. CEO Larry Ellison vowed to steam ahead with Oracles hostile takeover bid. "PeopleSoft is doing everything it can to prevent its shareholders from voting," Ellison said late Monday. "If PeopleSofts board is so convinced that the J.D. Edwards acquisition is a great deal, why wont they let their shareholders vote on it?"
PeopleSoft on Monday made the J.D. Edwards deal more attractive by offering half cash, thereby obviating the need for either companys shareholders to vote on the deal.
A statement issued by Oracle Monday evening said that Oracle intends to proceed with its offer and once again urged stockholders to read the Offer to Purchase carefully.
 
 
 
 
Lisa Vaas is News Editor/Operations for eWEEK.com and also serves as editor of the Database topic center. Since 1995, she has also been a Webcast news show anchorperson and a reporter covering the IT industry. She has focused on customer relationship management technology, IT salaries and careers, effects of the H1-B visa on the technology workforce, wireless technology, security, and, most recently, databases and the technologies that touch upon them. Her articles have appeared in eWEEK's print edition, on eWEEK.com, and in the startup IT magazine PC Connection. Prior to becoming a journalist, Vaas experienced an array of eye-opening careers, including driving a cab in Boston, photographing cranky babies in shopping malls, selling cameras, typography and computer training. She stopped a hair short of finishing an M.A. in English at the University of Massachusetts in Boston. She earned a B.S. in Communications from Emerson College. She runs two open-mic reading series in Boston and currently keeps bees in her home in Mashpee, Mass.
 
 
 
 
 
 
 

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