Increasing competitive pressure from SAP and the entry of Microsoft into the business applications market spurred Oracle to launch its hostile bid for PeopleSoft last year, Oracle CEO Larry Ellison testified on Wednesday.
Oracle Chief Executive Larry Ellison testified Friday that he and his board of directors came close to a merger with PeopleSoft in 2000, and had expected that last year's takeover bid would have been accepted within a matter of weeks.
Oracle may be pressing on with a nearly three-month-old unfriendly quest to buy PeopleSoft, but to PeopleSoft CEO Craig Conway, Oracle's bid is all but dead.
Oracle, which announced a surprise bid to acquire PeopleSoft last Friday, has asked to meet with the business software maker to explain its intentions.
PeopleSoft is offering customers money-back guarantees to prevent them from fleeing to rivals in fear of a hostile takeover by Oracle.
Increasing competitive pressure from SAP and the entry of Microsoft into the business applications market spurred Oracle to launch its hostile bid for PeopleSoft last year, Oracle CEO Larry Ellison testified on Wednesday.
The US Justice Department charges have been rejected, making way for Oracle's US$7.7 billion PeopleSoft merger. What does the future hold? Additional reading: New twist in software licensing
Could Larry Ellison's court performance have clinched Oracle's bid to buy PeopleSoft?
Trial pitting Oracle against PeopleSoft turns into mating ritual of sorts, as sides quibble over money.
COMMENTARY -- In December 1998, Larry Ellison was steering his maxi-yacht, Sayonara, when it was caught in a fierce, unexpected storm. Sayonara would win the Sydney-to-Hobart race off the coast of Australia that year, but not with Ellison at the helm.
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