San Francisco (June 23, 2003) -- PeopleSoft has urged stockholders to reject Oracle’s sweetened $6.3 billion takeover offer, saying the price was still too low and that regulators might object to the deal.

PeopleSoft said its board of directors voted unanimously to recommend rejection of the hostile bid, which Oracle raised by more than $1 billion over its initial $5.1 billion offer.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access