Friday, July 23, 2021

PeopleSoft Pushes to Close J.D. Edwards Deal

Despite Oracle’s sweetened offer to acquire PeopleSoft , the enterprise application vendor is pushing to close its
$1.75 billion merger plan with fellow application company J.D. Edwards

The company on Thursday said it launched an exchange offering in order to
close the deal, which offers J.D. Edwards stockholders cash or PeopleSoft
common stock.

The latest development move comes one day after database giant Oracle
raised its
unsolicited bid
for PeopleSoft from $5.1 billion to $6.3 billion, and
said it intended to file a lawsuit, charging that PeopleSoft is interfering
with its own takeover bid.

As Oracle seeks to woo PeopleSoft’s shareholders by proposing $19.50 per
share instead of the prior $16 offer, PeopleSoft kept pushing ahead with its
merger plans with J.D. Edwards Thursday, announcing the launch of an
exchange of shares to close the merger.

Based on the $16.92 closing price of PeopleSoft’s shares on June 13
before the deal was announced, the deal works out to about $14.33 per share,
which values the deal at about $1.75 billion (based on 122.4 million J.D.
Edwards shares outstanding).

The news also comes as PeopleSoft’s chief executive, Craig Conway,
delivers the keynote address during the CeBit America trade show in New

PeopleSoft said J.D. Edwards stockholders can elect to receive either all
cash or all stock for their J.D. Edwards shares, subject to proration.

Similar articles

Latest Articles

Data Science Market Trends...

When famed mathematician John W. Tukey postulated that advanced computing would have a profound effect on data analysis, he probably didn’t imagine the full...

Data Recovery Market Trends...

Data recovery is more important than ever in this era of constant cyber attacks and ransomware. The Verizon Data Breach Investigations Report (DBIR) looked...

Trends in Data Visualization

In a world of big data, visualization is becoming a key skill set that every business must master.  Digital technology has transformed the way businesses...

Microsoft Data Portfolio Review

With a host of analytics services for almost any situation, Microsoft Azure’s data services have got just about every base covered.   In the world...