November 12, 2004 |
Oracle Corp., rebuffed for a fifth time in its attempt to wrest control of PeopleSoft Inc., hired law firm Latham & Watkins to provide advice on other potential acquisitions. Latham & Watkins, which helped Oracle defeat a U.S. government challenge to the PeopleSoft offer, will navigate any antitrust problems with other acquisitions, said Dan Wall, a partner at the firm's San Francisco office.
December 21, 2004 |
Wachovia Corp. and Credit Suisse First Boston are helping arrange a $9.5-billion loan to back Oracle Corp.'s acquisition of PeopleSoft Inc., bankers familiar with the transaction said. Oracle said last week that it was negotiating with lenders to help finance the $10.3-billion acquisition. Oracle is not expected to renew its current $1.5-billion, 364-day revolving credit maturing Wednesday, the bankers said. Instead, Oracle will put in place a $9.
June 30, 2007 |
Oracle Corp.'s $9-million settlement to resolve claims that it improperly denied overtime pay to workers was rejected by a federal judge who said it was unfair to employees and a "bonanza" for Oracle and the workers' lawyers. U.S. District Judge William Alsup in San Francisco said the proposed accord, which includes $2.25 million in attorney fees, didn't provide adequate notification to hundreds of Oracle's U.S.
July 28, 1997 |
SuperGen Inc. said Oracle Corp. founder and Chairman Lawrence J. Ellison completed his purchase of a $15.3-million stake in the firm, which is developing anti-cancer drugs. In April, San Ramon, Calif.-based SuperGen said it agreed to sell a 9% stake to Ellison for $15 million, or $9 a share. SuperGen also is developing drugs to treat blood disorders and diabetes. Redwood Shores, Calif.-based Oracle is the world's largest maker of database software.
March 31, 2004 |
Oracle Corp. plans to challenge European Union antitrust objections to its $9.4-billion hostile bid for PeopleSoft Inc. by arguing that regulators are ignoring new competitors in the market, people familiar with the matter said. The European Commission singled out the market serving "large multinational companies with complex, global operations" dominated by Oracle, PeopleSoft and Germany's SAP when it opened the probe in November.
CALIFORNIA | LOCAL
January 23, 2003 |
State Justice Department investigators looking into the state's ill-fated software contract with Oracle Corp. postponed Sen. Dean Florez's grand jury testimony that was supposed to take place this week. Florez, a Democrat from Shafter in the Central Valley, led legislative oversight hearings last summer into the $95-million software deal, which was criticized as too costly by state auditors and since has been rescinded. An aide to Atty. Gen.
April 9, 1997
Larry Ellison, chairman of software company Oracle Corp., on Tuesday purchased a 9% stake in drug company SuperGen Inc., which is working to develop a new generation of cancer drugs. Oracle was not immediately available to explain the $15-million purchase, but a spokesman for San Ramon-based SuperGen said: "Larry has an interest in cancer, especially prostate cancer. A lot of his close friends like Michael Milken and [Intel Chairman] Andy Grove have had bouts with it."
June 12, 2004 |
Oracle Corp. failed to persuade a judge to exclude the testimony of three expert witnesses whom government attorneys will call during an antitrust trial over Oracle's proposed $7.7-billion hostile takeover of PeopleSoft Inc. U.S. District Judge Vaughn Walker in San Francisco will allow testimony by Kenneth Elzinga, a University of Virginia economist, who will testify about how the deal would affect Oracle's market share. Oracle also was unable to block the testimony of R.
December 8, 2004 |
Oracle Corp., which has spent 17 months trying to buy PeopleSoft Inc., expects a decision in January on whether a judge will invalidate PeopleSoft's anti-takeover defenses. Oracle President Safra Catz made the comment at an Oracle conference in San Francisco. Separately, PeopleSoft said the software maker was worth more than $31 a share to Oracle, based on calculations made by the company's directors. Oracle is offering $24 a share for PeopleSoft, valuing the software maker at $8.8 billion.