After an 18-month battle that saw an incredible ammount of blustering on both sides, Oracle has finally signed the deal: they will acquire PeopleSoft for approximately $10.3 billion
Oracle raised its “best and final” offer of $24 per share to $26.50, and with that, the sale has been approved by both companies’ boards of directors. Assuming that the Peoplesoft shareholders sign off on it, Oracle will be come the second-largest enterprise application developer in the world (behind Germany’s SAP) when the deal closes in January.
On the strength of that news, both companies stocks “soared over 10%”:http://www.reuters.com/newsArticle.jhtml?type=businessNews&storyID=7075581
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