PeopleSoft CEO: Oracle saga is over
C|Net | at | by Mike
Oracle may be pressing on with a nearly three-month-old unfriendly quest to buy PeopleSoft, but to PeopleSoft CEO Craig Conway, Oracle's bid is all but dead.
As far as Conway is concerned, Oracle lost steam in July, after PeopleSoft sealed its $1.8 billion purchase of J.D Edwards. Oracle had initially wished to stop that deal, which PeopleSoft had announced just days before Oracle's own bid. Another critical blow to Oracle, Conway said, was the fact that PeopleSoft announced strong second-quarter financial results, boosting investor confidence in the company. "In my mind, it was over in July," he said.
"You fast-forward to the end of July and all of August and look at our brand name awareness and at the adjectives used to describe the No. 2 competitor, and (Oracle's bid) is not wholly a bad thing," Conway said, claiming Oracle's brand has been damaged by the allegedly "predatory" acquisition bid.