PeopleSoft to reject Oracle offer

Oracle is due to file a formal $5.1bn (€4.3bn) offer for PeopleSoft today. However, it appears that the offer will be rejected.

Oracle launched the bid on Friday, following the news earlier in the week that PeopleSoft was to acquire J.D.Edwards. If completed the deal would have put PeopleSoft ahead of Oracle in the area of business software.

PeopleSoft has said that Oracle's bid is merely being made in an effort to disrupt its acquisition of J.D. Edwards. It will consider the offer as it is required to report on it to its shareholders.

In any case there have been questions asked about whether antitrust regulators would allow Oracle to acquire PeopleSoft.