PeopleSoft amends merger agreement with J.D. Edwards. (IT in Brief).(Brief Article)

Chemical Market Reporter, June, 2003

Enterprise resource planning (ERP) software vendors PeopleSoft Inc. and J.D. Edwards & Company have amended their earlier $1.7 billion merger agreement to facilitate a quicker closing date and to increase the cash portion of the transaction following Oracle Corp.'s original $5.1 billion hostile takeover bid for PeopleSoft earlier this month. The companies now expect to close the deal in the third quarter. It had been originally scheduled to close in the late third quarter or fourth quarter of 2003.

The original deal, a stock-for-stock transaction, has been changed to allow for payment of $863 million in cash and 52.6 million in newly issued PeopleSoft shares. Each J.D. Edwards stockholder will have the right to elect either cash or PeopleSoft common stock,...

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