Oracle extends PeopleSoft bid

Oracle Corp. has once more extended its offer to PeopleSoft shareholders to buy their stock in an effort to take over the rival company.

Originally set to expire July 7, the offer of $19.50 a share, or about $6.3 billion total, is now good through midnight July 18.

The Justice Department earlier this week requested additional information from the companies in evaluating whether the deal would violate antitrust laws. While the companies continue to wrangle, no deal could become final without Justice's approval.

PeopleSoft's board has twice voted to reject Oracle's offers, but the final decision rests with shareholders. The board has said that the offer undervalues PeopleSoft, and that antitrust regulators are likely to bar it.

Oracle spokeswoman Jennifer Glass said the company's compliance with the Justice request is "in process now," but did not say when it will be complete.

PeopleSoft, meanwhile, is continuing its own friendly takeover bid for J.D. Edwards & Co., a mid-market software maker that would extend PeopleSoft's reach into smaller enterprises.


  • Defense
    Ryan D. McCarthy being sworn in as Army Secretary Oct. 10, 2019. (Photo credit: Sgt. Dana Clarke/U.S. Army)

    Army wants to spend nearly $1B on cloud, data by 2025

    Army Secretary Ryan McCarthy said lack of funding or a potential delay in the JEDI cloud bid "strikes to the heart of our concern."

  • Congress
    Rep. Jim Langevin (D-R.I.) at the Hack the Capitol conference Sept. 20, 2018

    Jim Langevin's view from the Hill

    As chairman of of the Intelligence and Emerging Threats and Capabilities subcommittee of the House Armed Services Committe and a member of the House Homeland Security Committee, Rhode Island Democrat Jim Langevin is one of the most influential voices on cybersecurity in Congress.

Stay Connected


Sign up for our newsletter.

I agree to this site's Privacy Policy.