Jul 3

PeopleSoft Swallows a Poison Pill

PeopleSoft Offers Oracle Poison: (second story down). A “poison pill” is a move to make your company worth less to a buyer. PeopleSoft just swallowed one to try and fend off Oracle:

“PeopleSoft said over half those sales would come from contracts covered by a new customer protection program that industry watchers said was a takeover defense in disguise. Those contracts include a clause that says if PeopleSoft changes hands, the buyer would be required to rebate two to five times the amount of the original license agreement.”
by Deane   July 3, 2003 4:24 PM   |
  tags: 
Oracle, PeopleSoft

Comments

by Deane,   July 4, 2003 4:50 PM  

Much more detailed information from CNet:

http://news.com.com/2100-1012_3-1023255.html

by Deane,   July 7, 2003 4:45 AM  

http://www.usatoday.com/tech/techinvestor/techcorporatenews/2003-07-03-peoplesoft-refuned_x.htm

"...the size of the promised refunds infuriated Oracle.

'This is a scorched earth policy that is meant to entrench management and reduce the value of the company,' said Oracle spokesman Jim Finn."

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