Oracle Again Extends Its Bid For PeopleSoftOracle Again Extends Its Bid For PeopleSoft

Oracle has extended its $7.7 billion hostile bid for PeopleSoft until midnight (EST) Nov. 5. The offer price remains $21 per share, although Oracle execs have hinted they might reduce it.

The tender offer was previously set to expire at midnight EST Oct. 22. At the close of business Oct. 21, about 19,664,836 shares had been tendered and not withdrawn.

On June 9, 2003, Oracle first bid $16 a share for PeopleSoft stock. It has raised and extended its offer several times since. It raised the offer to $26 a share in February, then reduced it to $21 a share.

Shares of PeopleSoft closed Thursday at $20.43, up 23 cents from a Wednesday close of $20.20. Shares of Oracle closed at $12.44, up two cents from Wednesday.