PeopleSoft CEO lashes out at Oracle's hostile bid
crn.com | at | by Mike
PeopleSoft reacted frostily Friday afternoon to this morning's news that Oracle is attempting to purchase it for $5 billion. In a statement released by the company this morning, PeopleSoft CEO Craig Conway said the cash tender offer was "atrociously bad behavior from a company with a history of atrociously bad behavior." Added Conway: "Obviously, it's a transparent attempt to disrupt the acquisition of J.D. Edwards by PeopleSoft announced earlier this week."
In the statement, PeopleSoft attributed Oracle's move in part to PeopleSoft's "[gaining] marketshare against Oracle in the past few years. If anyone needed any further validation of the strength of the J.D. Edwards acquisition, we heard it today from Oracle."