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Oracle fires PeopleSoft executives

Posted by AccountingWEB in Technology on Tue, 04/01/2005 - 16:29

Oracle has effectively taken control of its ERP rival PeopleSoft after 75% of its shareholders accepted the company's $10.3bn bid.

Just before Christmas, PeopleSoft founder David Duffield resigned as CEO and chairman, anticipating Oracle's announcment that it had taken control of 75% of PeopleSoft stock after an 18 months dogfight.

Duffield had taken over as chief executive in October, when the PeopleSoft board dismissed the then CEO, Craig Conway, as Oracle turned up the pressure with its bid.

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