Oracle pulls PeopleSoft shocker

McCright, John S.; Callaghan, Dennis
June 2003
eWeek;6/9/2003, Vol. 20 Issue 23, p1
Concluding a week of consolidation in the enterprise applications sector, Oracle Corp. offered $5.1 billion for acquisition of PeopleSoft Inc. The proposed takeover, coupled with PeopleSoft's planned acquisition of J.D. Edwards & Co. would create a $5.5 billion business and capture 27 percent of enterprise resource planning market share. PeopleSoft president and CEO Craig Conway described Oracle's offer as "atrociously bad behavior from a company with a history of atrociously bad behavior." Oracle's acquisition of PeopleSoft may please shareholders but likely would not be welcomed by many PeopleSoft customers.


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