Justice Department staff opposes Oracle bid

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I think Oracle is bluffing....

Personally , I think Oracle was bluffing to buyout Peoplesoft, as a way to disrupt their business. This is just a continuation of that process. While the Peoplesoft board is probably biased against selling to their biggest competition, they probably see the bid as a way to either buy them and eliminate them, or just plain be a thorn in the companies side. So, Oracle has gone this far and now probably wants to push the envelope.
"Oracle Chief Executive Larry Ellison said months ago that an unfavorable decision from the Justice Department would put an end to the bid for his Pleasanton, Calif., rival. But more recently, Ellison told USA Today that he would be willing to challenge the Justice Department if it ruled against Oracle."
Short term though, this does raise Peoplesoft's stock, however it also forced them to buy back a large chunck of stock at the higher price.

Posted by: el1jones   Posted on: 02/11/04 You are currently: a Guest | Members login | Terms of Use

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