Oracle extends PeopleSoft tender offer

Oracle extends PeopleSoft tender offer

Oracle has given PeopleSoft shareholders an extra 11 days to accept its offer to acquire all common stock of PeopleSoft, and announced that the holders of one in nine shares have so far accepted the deal.

The deadline to accept the tender offer is now midnight on July 18.

Oracle announced its $US5.1 billion unsolicited bid for PeopleSoft on June 6 and, in the face of strong resistance from PeopleSoft, increased its offer to $US6.3 billion on June 18.

The offer originally was due to expire at midnight on July 7.

By close of business on Thursday, 34,753,434 shares had been tendered in and not withdrawn from the offer, Oracle said. There are 316,606,000 PeopleSoft shares outstanding, according to the Nasdaq stock exchange Web site.

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