Oracle Expects Key Court Ruling in January
Oracle Corp., which has spent 17 months trying to buy PeopleSoft Inc., expects a decision in January on whether a judge will invalidate PeopleSoft’s anti-takeover defenses.
Oracle President Safra Catz made the comment at an Oracle conference in San Francisco.
Separately, PeopleSoft said the software maker was worth more than $31 a share to Oracle, based on calculations made by the company’s directors. Oracle is offering $24 a share for PeopleSoft, valuing the software maker at $8.8 billion.
Shares of Oracle fell 28 cents to $13.06 on Nasdaq. PeopleSoft shares fell 8 cents to $23.69, also on Nasdaq.
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