Stocks rise as Oracle deal cheers investors

Investors pushed stocks substantially higher today as Wall Street greeted the Oracle-PeopleSoft merger and a climb in retail sales as signs of continued economic improvement.

Stocks rise as Oracle deal cheers investors
Mon, 13 Dec, 2004 - 22:57

Investors pushed stocks substantially higher today as Wall Street greeted the Oracle-PeopleSoft merger and a climb in retail sales as signs of continued economic improvement.

Oracle Corp. announced that PeopleSoft Inc. would accept a 26.50 dollar (€19.91) per-share bid, valuing the rival software company at 10.3 billion dollars (€7.74 billion).

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