Oracle Extends PeopleSoft Bid Again
The software maker lengthens $7.3 billion offer, ready to expire next week, until the end of the year.Oracle Corp. on Friday extended its bid a fifth time to buy enterprise software competitor PeopleSoft Corp.this time until the end of the year. The latest extension of the hostile $7.3 billion bid lasts until midnight EST on Dec. 31, replacing a tender offer that was set to expire at midnight EDT on Oct. 17. Oracle, of Redwood Shores, Calif., began its quest for PeopleSoft in June and has since raised its offer to $19.50 a share.
"We are as committed today as we were when we first announced our offer in June ()," said Oracle spokesman Jim Finn in a statement.