The board concluded that the offer would face lengthy antitrust scrutiny, and ultimately represent a ‘substantial threat’ to stockholder value after Oracle CEO Larry Ellison stated the PeopleSoft product would be discontinued.
The board also claims that the Oracle offer seriously undervalues the company based on its financial performance. ‘PeopleSoft remains steadfastly focused on providing our customers with superior products and services, and we will not let Oracle’s tactics interfere with our business,’ said president and CEO, Craig Conway.
Yesterday, PeopleSoft filed notification of its intention to acquire J.D. Edwards with the US Department of Justice and the Federal Trade Commission.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements