PeopleSoft customer body opposes Oracle bid
An independent organisation that looks after the interests of PeopleSoft's 5,100 worldwide customers has opposed Oracle's hostile $6.3bn takeover bid.
The International Customer Advisory Board released a statement today in full support of the board’s 20 June decision to reject Oracle’s revised offer.
‘Oracle’s expressed intention to discontinue the PeopleSoft product line is of grave concern,’ said said Peg Nicholson, president of the PeopleSoft ICAB, in a statement.
‘We feel strongly that an Oracle acquisition of PeopleSoft would reduce competition and force PeopleSoft users to migrate from their current applications and possibly database platforms – this unnecessary, expensive and risky effort is clearly not in the best interest of PeopleSoft customers.’
But the board’s resilience could be tested further as Larry Ellison hinted that a third approach may be made. ‘Never say never,’ he said, speaking at Oracle AppsWorld in London yesterday.