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Oracle, PeopleSoft Merger to Close Friday

By Ed Oswald | Published January 7, 2005, 6:00 AM

Oracle announced late Thursday that the merger with PeopleSoft was expected to close on Friday, and is taking steps to quickly integrate the two companies. Friday's events will signal the end of a year-long contentious battle between the two companies that resulted in courtroom battles, departures of several high-level PeopleSoft executives, and the firing of PeopleSoft's CEO.

At the end of a statement to the press, Oracle made clear PeopleSoft's new position in the merged company: "following the merger, PeopleSoft will be a wholly-owned subsidiary of Oracle."

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px208
Jan 7, 2005 - 7:59 AM

Just goes to show, if you ar etoo big of a target, it doesnt matter if you want to be sold or not. Could someone explain to me how Oracle can force another company to sell itself?

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marcos_cu
Jan 7, 2005 - 4:26 PM

Quite simple: by making an offer to PS shareholders that exceeds PS value.

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