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8/29/2003
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PeopleSoft Completes J.D. Edwards Deal

It finished the acquisition by buying the remaining shares it didn't own.

PLEASANTON, Calif. (AP) - Business software maker PeopleSoft Inc. on Friday announced the completion of its $1.8 billion acquisition of rival J.D. Edwards by buying the few remaining shares that it didn't already own.

The move was a formality--Pleasanton-based PeopleSoft took control of Denver-based J.D. Edwards on July 18 after accumulating an 88 percent stake in the company.

The takeover creates the world's second-largest maker of business applications software behind industry leader SAP of Germany. Redwood Shores-based Oracle Corp. is trying to seize the No. 2 position by buying PeopleSoft in a $7.5 billion hostile takeover.

PeopleSoft has spurned Oracle's $19.50-per-share cash offer, but the unwelcome suitor has refused to abandon its pursuit.

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