Oracle Closes PeopleSoft Deal
By Neville Hobson
Expert Author
Article Date: 2005-01-07
Oracle is closing its PeopleSoft acquisition today, after receiving more than 97 percent of PeopleSoft shares in its tender offer.
CNET News reports that Oracle set a deadline of Thursday evening for PeopleSoft investors to tender their shares, and was able to meet the 90 percent threshold to do a fast-track close on the deal and avoid a shareholder vote.
A vote would have delayed closing the deal by four to six weeks.
In a related development, eWeek reports that Oracle quietly replaced two top executives last week; an Oracle spokesperson said that any changes in executive roles will be announced on 26 January at Oracle's analyst day event in New York, eWeek said, where Oracle plans to discuss PeopleSoft integration plans.
About the Author:
Neville Hobson is the author of the popular NevilleHobson.com blog which focuses on business communication and technology. Neville is currentlly the VP of New Marketing at Crayon. Visit Neville Hobson's blog: NevilleHobson.com.
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