PeopleSoft has dismissed Oracle’s decision to waive opposition to its planned merger with JD Edwards as “blowing smoke – again!”
Oracle's CEO Larry Ellison said that despite earlier actions – including a law suit – Oracle was willing to waive its opposition to PeopleSoft's $1.7 billion deal to buy JD Edwards. He added that a separate merger agreement between PeopleSoft and JD Edwards shouldn't affect Oracle's $6.3 billion bid for PeopleSoft.
An Oracle spokesman called on the PeopleSoft management team to agree to meet with Oracle executives. "The condition we have now waived was identified by the PeopleSoft board of director as an important reason in declining to pursue discussions with us,” he said. “We hope that with this waiver, PeopleSoft will finally agree to meet with us."
But that seems unlikely. PeopleSoft issued a statement insisting: "Removing the waiver means nothing when Oracle still has pending litigation in Delaware that opposes the PeopleSoft/JD Edwards transaction. There are other conditions that still cannot be met. Oracle is just blowing smoke -- again."