PeopleSoft stakeholders split over ‘final’ offer

Link: PeopleSoft rejects ‘final’ Oracle bid

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.

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