Pleasanton, Calif. (Sept. 2, 2003) -- Enterprise software manufacturer and marketer PeopleSoft Inc. has acquired the remaining shares it did not own of its merger partner J. D. Edwards & Co.
PeopleSoft paid $7.05 in cash and 0.43 of its common shares for each remaining J.D. Edwards share. PeopleSoft initially purchased about 105 million of J.D. Edwards shares through an exchange July 17.
"Over the last month we have moved rapidly to integrate the two companies," PeopleSoft chief executive Craig Conway said in a statement.
The buy subsequently raises the price of PeopleSoft in its battle against a $7.3 billion hostile takeover by Oracle Corp. That acquisition is awaiting an antitrust review by the Department of Justice.
-- WebCPA staff
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