TITLE

Oracle Asks for Customer Trust After Antitrust Ruling

PUB. DATE
October 2004
SOURCE
Bank Technology News;Oct2004, Vol. 17 Issue 10, p20
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article focuses on the computer software company Oracle Corp.'s acquisition bid to buy PeopleSoft Inc., which is getting nasty as the deal progresses. The latest chapter includes a ruling that Oracle isn't breaking antitrust rules, and Oracle is attempting to cairn nervous PeopleSoft customers. What isn't happening is clarification, and sources say that's beginning to impact the technology business beyond those two firms. PeopleSoft, whose board has unanimously rejected Oracle's offer of $21 per share, has sued Oracle for $1 billion, alleging unfair business practices--including a deliberate attempt to mislead PeopleSoft's customers. Oracle will begin an active campaign to reassure PeopleSoft customers, which it outlines in a "PeopleSoft Customer Commitment" document on its Web site.
ACCESSION #
14734420

 

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