Ellison Is Not Giving Up

By Deane Barker on September 10, 2003

Ellison ‘determined’ to acquire PeopleSoft: According to Larry, it’s not over yet.

“Oracle Chief Executive Larry Ellison repeated on Tuesday his determination to acquire rival PeopleSoft, but was cagey about whether he would raise the offer price of his hostile takeover bid.

Questioned on Tuesday about whether Oracle could acquire PeopleSoft at its current offer price of $19.50 per share, Ellison replied, ‘Who knows?’

Ellison made the comment during a press briefing at the OracleWorld conference here, after a keynote speech. He also said his pursuit of the company is far from over. ‘We’re very determined to complete this acquisition, and we’re very patient,’ Ellison said.”

He keeps extending the time limit on the offer (like, three times now). I think he just needs to raise the bid. He only has about 10% of the shares tendered.