Software // Enterprise Applications
News
10/7/2004
06:32 PM
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Oracle's PeopleSoft Offer Now Good Until Oct. 22

Oracle on Thursday again extended its $7.7 billion offer to PeopleSoft common stock holders, making the $21 per share price tag available through Oct. 22.

Oracle on Thursday again extended its $7.7 billion offer to PeopleSoft Inc. common stock holders, making the $21 per share price available through midnight EDT on Friday, Oct. 22, an offer previously set to expire at midnight on Oct. 8.

During the past 16 months, Oracle has changed its offer price several times. The initial bid in June 2003 was $16 a share, raised shortly after to $19.50 a share. In February, the offer shot up to $26 a share. The offer has since been reduced to $21 per share.

Shares of PeopleSoft closed Thursday at $22.53, down slightly from a Wednesday close of $22.66. Shares of Oracle closed at $12.29, up slightly from a Wednesday close of $12.24.

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