Oracle wins battle for PeopleSoft

Giant merger approved by PeopleSoft's board, Oracle says it plans to continue developing PeopleSoft products
||Last Updated: 09/06/2005

After 18 months of resisting Oracle’s overtures, PeopleSoft has finally succumbed.

Oracle announced earlier today that it has signed a definitive merger agreement to acquire PeopleSoft, Inc., in a $10.3 billion deal (all figures US) or $26.50 per share. The transaction has been approved by the boards of directors of both companies and should close by early January.

The price offered by Oracle topped what it said in October was its best and final offer of $24 per share.