The PeopleSoft board have rejected Oracle's final offer to buy the company. PeopleSoft have said that they firmly believe the company to be worth more than the $24 a share that constituted Oracle's cash bid. The total transaction, believed to be worth some $9.2 billion, was rejected by the PeopleSoft board on Wednesday. However, PeopleSoft expects its shareholders to meet Oracle's demands anyway, which would send the two companies into a proxy battle for control of its board.
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