Monday, December 13, 2004
It's nice to be prescientOracle Corp. and PeopleSoft have reached agreement for Oracle to buy PeopleSoft for $10.3 billion. According to the IDG News Service story, "The transaction has been approved by both companies' boards of directors and is expected to close by early January."
As I said right here last June, "Oracle has also now raised their tender offer for PeopleSoft shares, a good move. Its remarkable, I think, but Oracle seems to be making all the right moves and PeopleSoft appears to be run by a craven bunch interested only in saving their own jobs. PeopleSoft shareholders, take note. Better check out the weather report for Hades!" The "craven bunch" (lead be ex-CEO Craig Conway), it should be noted, was booted by the current PeopleSoft Board of Directors in October - paving the way for today's announcement.
It's nice when sanity returns to the boardroom, isn't it?
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