Oracle extends PeopleSoft offer

Oracle has extended its tender offer for PeopleSoft to midnight Eastern Daylight Time on Sept. 19, the company said in a statement last Friday.

Oracle, in Redwood Shores, California, launched its offer for the Pleasanton, California-based PeopleSoft on June 9. It has since been extended and was set to expire on Aug. 15.

Since first proposing the acquisition, Oracle has increased its cash tender offer to US$19.50 per share and it is now worth about $7.5 billion in total.

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