PeopleSoft said Friday that it has filed a suit against Oracle, the latest in a series of moves aimed at thwarting the database giant's unsolicited takeover bid.
PeopleSoft has amended a lawsuit against Oracle that charges its rival's unwelcome acquisition bid was mainly designed to disrupt its business.
US Federal regulators said on Monday that the pending merger of PeopleSoft and J.D. Edwards is not anticompetitive, clearing the way for the friendly US$1.7 billion deal and frustrating Oracle's desire to acquire PeopleSoft in a separate, hostile takeover bid.
PeopleSoft has cancelled its plans to appear in court Tuesday to seek a temporary restraining order against Oracle and its attempt to take over its business software rival, according to the database giant.
Capping his company's four-week trial against the Justice Department, Oracle CEO Larry Ellison's masterful testimony on Thursday convincingly laid out the legal case for why Oracle should be allowed to be a cold-hearted acquirer.
As early as spring last year, Oracle considered Lawson Software and J.D. Edwards as acquisition targets, according to a videotaped deposition of Oracle's chief financial officer.
With so many forces mounting opposition to Oracle's hostile bid to buy PeopleSoft, cooler heads might suggest it's time to call it quits. But Oracle CEO Larry Ellison has never been one to follow conventional wisdom. Additional reading: Protect your software assets
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