PeopleSoft's board unanimously rejects Oracle's offer

Canadian experts weigh in on the takeover bid and what it could mean to the HR market: "The unknowns are just going to scare the pants off people"
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|hrreporter.com|Last Updated: 06/18/2003

P

eopleSoft Inc.’s board of directors has unanimously rejected the unsolicited bid by Oracle Corp. to buy the company.

On Thursday, the board said Oracle’s offer would face lengthy antitrust scrutiny and would probably not receive the required approval. It also said the bid by Oracle, of $16 (all figures U.S.) per share, undervalues the company.