Software maker Oracle raises bid for PeopleSoft: We haven’t talked about this one in quite a while, but it’s still on the table.
Business software maker Oracle Corp. raised its hostile takeover bid for rival PeopleSoft Inc. by 33 percent to $26 per share today.
This is the second rasing of the bid. They started at $16 eight months ago, went to $19.50 shortly after, and have now made a big jump. They’re not kidding around — this an all-cash, $9.4 billion offer. PeopleSoft is going to meet to review the new bid but they’ll probably reject it out of hand based on principle.
I just finished an extended profile of Larry Ellison in a great book called “The New Imperialists.” Based on what I learned about him, I don’t think he’s giving up.