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Oracle increases PeopleSoft offer

By Derek Sooman

On November 1, 2004, 10:41 AM

Oracle, who are just crazy about getting their hands on rival company PeopleSoft, have increased their offer to buy the company by $3 per share, taking its bid for PeopleSoft to a total of around $8.8 billion. Oracle have been involved in a bitter fight for control of PeopleSoft since they first launched their hostile takeover bid in June 2003. But now, a European Commission vote has approved the merger, and Oracle are pulling out their big guns to win this prize.

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