Oracle ups ante in bid for PeopleSoft

Offer raised to $19.50 (U.S.) but deal still not a sure thing
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|hrreporter.com|Last Updated: 06/23/2003

O

racle Corp. has increased its bid to buy rival PeopleSoft Inc. to $19.50 (all figures U.S.) per share, bringing the total value of the bid to about $6.3 billion.

Oracle said this is a 29 per cent premium over PeopleSoft’s stock price prior to the announcement of Oracle’s bid on June 6, 2003. Oracle's original bid was $16 per share, or a total of $5.1 billion.