Oracle has announced they expect to close the hostile takeover of PeopleSoft today, bringing an end to a saga that started in June 2003. PeopleSoft executives agreed to sell the company for US$26.50 per share last month.
Initally, Oracle offered just US$16 a share to take over the company. Oracle’s takeover bid has been riddles with personal insults, courtroom drama, and the resignation of several PeopleSoft executives, including CEO Craig Conway.
With the purchase of PeopleSoft, Oracle hopes to build a stronger rival to Germany’s SAP AG.
