Acquisition backed by 88 per cent of JD Edwards shareholders
vnunet.com, 18 Jul 2003
PeopleSoft claims it has received the necessary support from JD Edwards shareholders to complete its acquisition of the company.
According to a PeopleSoft statement, 88 per cent of JD Edwards shareholders have accepted its offer, clearing the way for the $1.8bn merger between the companies.
"The combination of PeopleSoft and JD Edwards creates the second largest enterprise applications software company in the world," said PeopleSoft president and chief executive, Craig Conway.
"With the resources of the combined company, we will continue to make our customers stronger and solve their most pressing business problems," said Bob Dutkowsky, JD Edwards president and chief executive.
PeopleSoft said it expects to acquire the outstanding shares by the end of August.
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