[OT] Oracle chokes on PeopleSoft's poison pill

[OT] Oracle chokes on PeopleSoft's poison pill

Post by rgc » Thu, 13 Nov 2003 01:45:54


'Oracle may have to abandon its $7.3 billion hostile takeover bid for
PeopleSoft because of the enterprise software firm's licensing-fee
refund program.

In a filling to a Deleware Court, Oracle said PeopleSoft's promise to
give its customers between two to five times their licensing fees back
following a takeover could scupper its bid.

"If the PeopleSoft board is permitted to continue to issue
self-serving, entrenchment-motivated contracts under the revised
money-back offer, Oracle may be forced to abandon its bid as it will
no longer be economically viable," the filing said, according to The
Wall Street Journal.'

Novel twist that's for sure.

[OT] Oracle chokes on PeopleSoft's poison pill

Post by Sugapabl » Thu, 13 Nov 2003 02:21:29

Is this the future of protecting yourself from hostile takeovers?

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