Oracle offers to buy PeopleSoft for $5.1 billion

June 06, 2003 17:55 IST

Oracle Corp., the world's No. 2 software maker, said on Friday it offered to buy rival PeopleSoft Inc for $5.1 billion, four days after PeopleSoft offered to buy another rival, J D Edwards & Co.

PeopleSoft executives could not immediately be reached for comment.

Oracle offered to pay $16 a share for PeopleSoft, which represents a 6 per cent premium over PeopleSoft's closing price of $15.11 in Thursday Nasdaq trading.

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