Ellison accuses firm of preventing a shareholder vote on JD Edwards deal
vnunet.com, 18 Jun 2003
Oracle has hit out at PeopleSoft, accusing the company of trying to prevent its own shareholders from voting on PeopleSoft's acquisition of JD Edwards.
The comments were made after PeopleSoft announced that it had amended the terms of its proposed merger agreement with JD Edwards.
Oracle claimed that the effect of the amendment was to eliminate the required vote of PeopleSoft shareholders with respect to the merger.
"PeopleSoft is doing everything it can to prevent its shareholders from voting," said Oracle chief executive Larry Ellison.
"If PeopleSoft's board is so convinced that the JD Edwards acquisition is a great deal, why won't it let their shareholders vote on it?"
Oracle added that it intends to proceed with its offer.
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