Owners
The epic with absorption of the competitor costing both Oracle, and PeopleSoft of considerable blood ended in 2004. Oracle raised the cost of the offer for 10% and finally purchased PeopleSoft for $10.3 billion. As a result the company known for the DBMS turned into the second in greatness global manufacturer of business applications.
On December 13, 2004 it was announced that the Board of Directors of PeopleSoft approved the transaction. For this Oracle it was necessary to crawfish and increase the "best and the last" the offer to $26.5 for an action of the competitor. This price offers a 75% award to PeopleSoft share value at the time of receipt of the first offer on sale to the company.
For the first time Oracle made the similar proposal in June, 2003. Then the cost of the transaction was estimated at $5.1 billion. Then, owing to negative reaction of the management of PeopleSoft, competitors increased the transaction size — it was made 5 times. The fifth offer of Oracle was rejected in November of the current year. The conflict which resulted between the companies was followed by antimonopoly investigations in the USA and Europe and lawsuits.
After merge passed up to 12.750 thousand clients of PeopleSoft bringing annual income to Oracle honor in $3 billion. The deal on absorption is closed in January, 2005.
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