Oracle Tops Earnings Expectations
Oracle CEO Larry Ellison kept up the hype on the company's pursuit of PeopleSoft during the database behemoth's fourth-quarter 2003 earnings report Thursday.Oracle Corp. CEO Larry Ellison kept up the hype on the companys pursuit of PeopleSoft Inc. during the database behemoths fourth-quarter 2003 earnings report Thursday, saying that the only difference between Oracles offer and an earlier plan to merge the two companies is that Oracles plan wouldnt feature PeopleSoft President and CEO Craig Conway in charge. "A year ago, Mr. Conway approached me with the idea of combining the Oracle applications business with the PeopleSoft applications business," Ellison said during a live Webcast of the earnings report. "He identified himself as the right person to run that business." A little while later, Ellison said, Conway "suddenly" saw that the combined duo would present antitrust concerns, referring to PeopleSofts board of directors recently having cited antitrust concerns as a disincentive when recommending to shareholders that they reject the offer.
"Mr. Conway would be running the combined companies in his proposal," Ellison said. "In ours he would not. Thats the only change."