Capital Guardian Trust, which holds 10% of PeopleSoft shares, is in favour of Oracle’s bid, while Private Capital Management, holding 9.3%, is against the takeover attempt.
And with many shares being held by investors looking to ‘bet’ on the outcome of long-running takeover bid, CGT’s support could tip the balance in Oracle’s favour, one shareholder who supports the bid told the Financial Times.
It is believed that between 25% and 30% of PeopleSoft shares are held by ‘arbitrage’ investors – who bet on the outcome of hostile bids.
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