A PeopleSoft board member testified Monday that former CEO Craig Conway was fired in large part because of his reckless exaggeration to Wall Street analysts when informing them last year that Oracle's offer to buy the company was no longer a disruptive influence.
PeopleSoft board members today rejected Oracle's "best and final" offer in the often contentious 17-month hostile takeover battle. But the database software giant says it will still appeal to shareholders.
European antitrust regulators ruled Tuesday that Oracle can proceed with its hostile takeover bid for PeopleSoft, clearing the last regulatory hurdle in the protracted and sometimes tumultuous battle.
Oracle director Joseph Grundfest acknowledged during courtroom testimony Thursday that the company's US$21-a-share offer for PeopleSoft may not be its last.
Is PeopleSoft's founder and long-time chief executive back at the helm to accept Oracle's takeover bid, or to dig in for a long-term battle?
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