Oracle increased its bid by 10 percent, thereby cementing its takeover of rival PeopleSoft. The $10.3 billion deal will make Oracle the second largest maker of business applications software behind German based SAP.
When the takeover is complete, Oracle anticipates the PeopleSoft acquisition will boost its earnings by about $400 million, or 8 cents per share, during the fiscal year ending May 2006.
The fate of PeopleSoft’s roughly 12,000 employees remains unclear, but the number of pink slips may not be as substantial as originally rumored. read article.