PeopleSoft moves on J.D. Edwards bid: Insight

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This story was printed from ZDNet Australia.
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PeopleSoft moves on J.D. Edwards bid

By Michael Kanellos, 0
June 12, 2003
URL: http://www.zdnet.com.au/insight/soa/PeopleSoft-moves-on-J-D-Edwards-bid/0,139023731,120275307,00.htm

PeopleSoft has formally filed notice of its plans to acquire J.D. Edwards with the Federal Trade Commission and the Department of Justice, despite itself being the target of an Oracle takeover bid.

In compliance with the Hart-Scott-Rodino Antitrust Improvements Act of 1976, the Pleasanton, Calif.-based application developer submitted documents Wednesday with the FTC and the Justice Department, confirming its plans to proceed with the acquisition of J.D. Edwards, which participates in similar markets.

PeopleSoft last week announced its intent to buy J.D. Edwards for US$1.7 billion. If consummated, the takeover would make PeopleSoft the second-biggest provider of applications for managing human resources departments or manufacturing operations.

In response, rival Oracle, which currently holds the No. 2 spot in that market, launched a hostile bid to buy PeopleSoft for US$5.1 billion.

Oracle's unsolicited bid has prompted angry responses from PeopleSoft executives. PeopleSoft, however, has said that it will evaluate the Oracle bid.