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Oracle extends bid for PeopleSoft

San Francisco, Oct. 11 (Reuters): Oracle Corp., the world’s second-biggest software maker, has said that 6.7 per cent of the outstanding shares of PeopleSoft Inc. have been tendered in its offer to acquire PeopleSoft, and the offer has been extended.

The deadline for the offer has been extended to December 31.

“We are as committed today as we were when we first announced our offer in June and therefore extend our bid for PeopleSoft,” Oracle spokesman Jim Finn said in a statement.

The tender offer was previously set to expire at midnight October 17. As of the close of business on Friday, a total of 24,812,259 shares had been tendered and not withdrawn from the offer, Oracle said.

PeopleSoft has rejected Oracle’s offer of $19.50 per share, which previously was set to expire on October 17.

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