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PeopleSoft Claims Oracle Bid Has Sputtered Out

PeopleSoft Claims Oracle Bid Has Sputtered Out

"I truly believe that the Oracle saga is over." - PeopleSoft CEO Craig Conway who figures PeopleSoft's hurried combination with JD Edwards killed the Oracle bid for all intents and purposes. On the other hand, an evidently still worried PeopleSoft has restarted its money-back guarantee scheme, concocted to ward Oracle off by offering customers a refund of two to five times the cost of their license if PeopleSoft is acquired. Oracle would have to foot the bill. When last heard from, Oracle was saying it was still determined to acquire PeopleSoft. Oracle's tender offer currently expires September 19. Conway claims there's no way Oracle can dislodge the PeopleSoft board as it's threatened to do next June if its tender offer fails. Oracle is going to make another appeal to PeopleSoft shareholders and try to smooth the ruffled feathers of PeopleSoft customers on Wednesday in another online Town Hall Meeting. Meanwhile, some of the court evidence that PeopleSoft claims in its suit against Oracle proves Oracle's plan was to disrupt its business has been unsealed and most of the tidbits seem innocent enough although Oracle complains that it's been taken out of context. Oracle's e-mail says things like "We really won't be continuing their product line" - which is what Oracle CEO Larry Ellison said depending on what day one tuned in to listen to him and anyhow, how is that difference from most acquisitions? Of course, there is the e-mail that reads: "We've certainly wounded PSFT...Even if we don't end up closing the deal, this is going to take PSFT time to recover."

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Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

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