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PeopleSoft Says "No": Just Nine More Days and Oracle May Walk Away
PeopleSoft Says "No": Just Nine More Days and Oracle May Walk Away

The PeopleSoft board today issued a statement to its shareholders recommending them not to tender their shares to Oracle.

At $24 per share, the "best and final" offer made by Oracle "substantially undervalues" the company, says the board.

In other words $8.8BN is not enough.

Larry Ellison intends to stick to the November 19 deadline by which date PeopleSoft shareholders have been told they need to tender their shares for the takeover to go ahead. The offer is good till midnight that day. So in nine days time it may all be over.

One way or the other.

"Oracle has been at this for a year and a half," said Larry Ellison in a statement, "and it's now time to bring this matter to a close."

If $24 a share isn't enough, that's just too bad, Ellison maintains: "Beyond that, there are better uses of our capital including other acquisitions and repurchasing our own shares."

It will be an interesting nine days.

About Jeremy Geelan
Jeremy Geelan is Chairman & CEO of the 21st Century Internet Group, Inc. and an Executive Academy Member of the International Academy of Digital Arts & Sciences. Formerly he was President & COO at Cloud Expo, Inc. and Conference Chair of the worldwide Cloud Expo series. He appears regularly at conferences and trade shows, speaking to technology audiences across six continents. You can follow him on twitter: @jg21.

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Reader Feedback: Page 1 of 1

The P'soft board obviously thinks it can get $28 a share but Larry is serious about that deadline and about the $24 limit - so saying no is the surest way of ending this once and for all and letting Genghis Ellison move on to some other quarry.

Nine days to freedom.

Nine days.




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