Mntsnow
12-13-2004, 9:46 AM
Oracle Corp. said Monday it has finally struck a deal to buy PeopleSoft, ending its 18-month hostile takeover battle.
Oracle said it is paying $10.3 billion in cash, or $26.50 a share, for the rival business software developer. That's up nearly 11 percent from PeopleSoft's Friday close of $23.95.
Shares of Oracle surged 7 percent Monday morning while PeopleSoft's stock shot up more than 10 percent. Read more at CnnMoney (http://money.cnn.com/2004/12/13/technology/oracle_peoplesoft/index.htm?cnn=yes)
Oracle said it is paying $10.3 billion in cash, or $26.50 a share, for the rival business software developer. That's up nearly 11 percent from PeopleSoft's Friday close of $23.95.
Shares of Oracle surged 7 percent Monday morning while PeopleSoft's stock shot up more than 10 percent. Read more at CnnMoney (http://money.cnn.com/2004/12/13/technology/oracle_peoplesoft/index.htm?cnn=yes)