Oracle and PeopleSoft Sign Definitive Merger Agreement

Dec 14, 2004

Oracle Corporation has signed a definitive merger agreement to acquire PeopleSoft, Inc., for $26.50 per share (approximately $10.3 billion). The transaction has been approved by the boards of directors of both companies and is expected to close by early January. Oracle is amending its current tender offer for all outstanding shares of PeopleSoft to expire at midnight, New York City time, on December 28, 2004. As of the close of business on Friday, December 10, 2004, approximately 120,600,093 shares had been tendered in and not withdrawn from the offer.