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IN BRIEF / TECHNOLOGY

PeopleSoft Refunds May Be Costly for Oracle

October 30, 2003|From Bloomberg News

PeopleSoft Inc., the business-software maker battling a hostile bid from Oracle Corp., said a customer refund program could cost Oracle $800 million if it buys PeopleSoft and stops supporting or selling the company's products.

In the second quarter, PeopleSoft promised to refund two to five times a customer's money to reassure clients spooked by Oracle's bid. The offers rose to $800 million as of Sept. 30 from $391 million on June 30, the company said.

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