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By Roger Strukhoff
Richard Davies wrote: The UK has a good crop of technology pioneers in cloud computing - for example ElasticHosts, FlexiScale, Flexiant, OnApp - and also some strong government initiatives such as G-Cloud. We will have to see whether this kind of technical leadership converts into swift mass-market adoption or not.
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PeopleSoft Says "No": Just Nine More Days and Oracle May Walk Away
PeopleSoft Says "No": Just Nine More Days and Oracle May Walk Away

By: Jeremy Geelan
Nov. 10, 2004 12:00 AM

The PeopleSoft board today issued a statement to its shareholders recommending them not to tender their shares to Oracle.

At $24 per share, the "best and final" offer made by Oracle "substantially undervalues" the company, says the board.

In other words $8.8BN is not enough.

Larry Ellison intends to stick to the November 19 deadline by which date PeopleSoft shareholders have been told they need to tender their shares for the takeover to go ahead. The offer is good till midnight that day. So in nine days time it may all be over.

One way or the other.

"Oracle has been at this for a year and a half," said Larry Ellison in a statement, "and it's now time to bring this matter to a close."

If $24 a share isn't enough, that's just too bad, Ellison maintains: "Beyond that, there are better uses of our capital including other acquisitions and repurchasing our own shares."

It will be an interesting nine days.

Published Nov. 10, 2004— Reads 18,177 — Feedback 1
Copyright © 2004 SYS-CON Media, Inc. — All Rights Reserved.
Syndicated stories and blog feeds, all rights reserved by the author.
About Jeremy Geelan
Jeremy Geelan is President & COO of Cloud Expo, Inc. and Conference Chair of the worldwide Cloud Expo series. He appears regularly at conferences and trade shows, speaking to technology audiences both in North America and overseas. He is executive producer and presenter of Cloud Expo's "Power Panels" on SYS-CON.TV.

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Reader Feedback: Page 1 of 1

The P'soft board obviously thinks it can get $28 a share but Larry is serious about that deadline and about the $24 limit - so saying no is the surest way of ending this once and for all and letting Genghis Ellison move on to some other quarry.

Nine days to freedom.

Nine days.


Your Feedback
JustSayNo wrote: The P'soft board obviously thinks it can get $28 a share but Larry is serious about that deadline and about the $24 limit - so saying no is the surest way of ending this once and for all and letting Genghis Ellison move on to some other quarry. Nine days to freedom. Nine days.
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