The Hindu Business Line : Oracle in control of PeopleSoft

HYDERABAD: Oracle Corporation has announced that PeopleSoft stockholders have tendered approximately 75 per cent of PeopleSoft outstanding stock, giving Oracle control of the company.

Oracle has designated four representatives to serve on PeopleSoft's board of directors, replacing the PeopleSoft board members who had resigned, giving Oracle majority board representation.

Two of the previous PeopleSoft board members will remain on the PeopleSoft board until the merger between the companies is completed.

More Stories on : Mergers & Acquisitions | Software

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