Oracle extended the deadline for tendering shares in its hostile takeover bid for PeopleSoft, the company announced Thursday.
Oracle unveiled its Applications Unlimited program on Tuesday, removing a 2013 deadline for halting development of new releases of its PeopleSoft, JD Edwards and Siebel Systems software.
Seeking to bring its US$10.3 billion buyout of PeopleSoft to a swift close, Oracle is giving PeopleSoft investors two days to tender at least 90 percent of their shares.
PeopleSoft has pledged to support its products for longer, echoing rival Oracle's promise to support customers for 10 years if its hostile bid is successful.
Oracle expects to receive word by Monday in the U.S. whether federal antitrust regulators will let its hostile bid for PeopleSoft jump over regulatory hurdles.
A single phone call on Friday evening brought the long-running Oracle-PeopleSoft fight to a close, Oracle President Chuck Phillips revealed.
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