Oracle makes 'final' offer for PeopleSoft

Oracle letter to PeopleSoft shareholders

Related Links

Oracle Corp. officials again urged PeopleSoft Inc. shareholders to sell their stock to Oracle, which has been trying for months to buy the its enterprise software rival.

"By rejecting our offer, PeopleSoft's directors have sought to deny you — the true owners of PeopleSoft — the opportunity to sell your shares to Oracle for a substantial premium in an all-cash offer," said the letter to shareholders, signed by Oracle chief executive officer Larry Ellison and chief financial officer Jeff Henley. "Fortunately, you and your fellow PeopleSoft stockholders ultimately do have control over your investment in PeopleSoft, and you do have the ability to act."

The letter urges stockholders to sell their shares to Oracle and to vote for five new PeopleSoft board members that Oracle officials nominated. Oracle recently increased its offer to $26 a share, or $9.4 billion.

"This is our final price, and we believe it represents a compelling value for all PeopleSoft stockholders, particularly in light of PeopleSoft's recent guidance below consensus Wall Street estimates for its first-quarter revenue and earnings," Ellison and Henley wrote.

The Fed 100

Read the profiles of all this year's winners.

Featured

  • Then-presidential candidate Donald Trump at a 2016 campaign event. Image: Shutterstock

    'Buy American' order puts procurement in the spotlight

    Some IT contractors are worried that the "buy American" executive order from President Trump could squeeze key innovators out of the market.

  • OMB chief Mick Mulvaney, shown here in as a member of Congress in 2013. (Photo credit Gage Skidmore/Flickr)

    White House taps old policies for new government makeover

    New guidance from OMB advises agencies to use shared services, GWACs and federal schedules for acquisition, and to leverage IT wherever possible in restructuring plans.

  • Shutterstock image (by Everett Historical): aerial of the Pentagon.

    What DOD's next CIO will have to deal with

    It could be months before the Defense Department has a new CIO, and he or she will face a host of organizational and operational challenges from Day One

  • USAF Gen. John Hyten

    General: Cyber Command needs new platform before NSA split

    U.S. Cyber Command should be elevated to a full combatant command as soon as possible, the head of Strategic Command told Congress, but it cannot be separated from the NSA until it has its own cyber platform.

  • Image from Shutterstock.

    DLA goes virtual

    The Defense Logistics Agency is in the midst of an ambitious campaign to eliminate its IT infrastructure and transition to using exclusively shared, hosted and virtual services.

  • Fed 100 logo

    The 2017 Federal 100

    The women and men who make up this year's Fed 100 are proof positive of what one person can make possibile in federal IT. Read on to learn more about each and every winner's accomplishments.

Reader comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

More from 1105 Public Sector Media Group