Software // Enterprise Applications
News
12/30/2003
12:44 PM
Connect Directly
RSS
E-Mail
50%
50%

Oracle Adds More Funding For PeopleSoft Push

It has negotiated a $1.5 billion line of credit and says it has enough financial resources on hand to close the deal.

Oracle has raised another $1.5 billion to fund its $7.5 billion hostile takeover bid for PeopleSoft.

In a filing with the Securities and Exchange Commission, Oracle said it has negotiated the $1.5 billion line of credit with ABN Amro Bank NV, Credit Suisse First Boston, and other lenders. Oracle said it had enough financial resources on hand Nov. 30 to complete the deal--$8.1 billion.

Earlier, Oracle had extended the deadline for its initial offer from Dec. 31 to Feb. 13, 2004. PeopleSoft has been resisting the hostile acquisition bid and says it's confident it will ward off the unsolicited tender offer.

The takeover bid has been delayed as antitrust regulators in Europe and the United States examine the issue.

Comment  | 
Print  | 
More Insights
Building A Mobile Business Mindset
Building A Mobile Business Mindset
Among 688 respondents, 46% have deployed mobile apps, with an additional 24% planning to in the next year. Soon all apps will look like mobile apps and it's past time for those with no plans to get cracking.
Register for InformationWeek Newsletters
White Papers
Current Issue
InformationWeek Tech Digest - July 22, 2014
Sophisticated attacks demand real-time risk management and continuous monitoring. Here's how federal agencies are meeting that challenge.
Flash Poll
Video
Slideshows
Twitter Feed
InformationWeek Radio
Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.