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Oracle extends PeopleSoft share deadline

Dawn Kawamoto CNET News.com

Published: 14 Jul 2004 09:10 BST

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Oracle announced on Monday that it has extended the deadline for PeopleSoft investors to tender their shares in its hostile bid to acquire PeopleSoft. Oracle has extended the deadline to 27 August from 16 July. The $7.7bn dollar deal offers $21 for each share of PeopleSoft stock.

PeopleSoft investors have tendered 4.69 million shares to date and are waiting to see if the Justice Department will prevail in its efforts to block the deal. A US District Court judge is expected to rule on the case sometime in August or September.

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