Oracle Corp. may end its hostile $7.3
billion bid for PeopleSoft Inc. if PeopleSoft continues to offer
refunds to customers who may become dissatisfied after a
takeover, the Wall Street Journal said.
The bid may be abandoned “as it will no longer be
economically viable” under PeopleSoft’s money-back offer, Oracle
said in a court filing, according to the newspaper. PeopleSoft is
offering refunds of as much as five times consumers’ software
licensing fees, the Journal said.
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Oracle, the world’s third-largest software maker, wants to
buy PeopleSoft to help bolster its position in the market for
business applications software, which manage tasks like
accounting and payroll. The refunds may add as much as
$800 million to Oracle’s purchase price, PeopleSoft Chief
Financial Officer Kevin Parker said last month.
Bloomberg News
