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Ellison: PeopleSoft talked merger in 2000
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“Oracle Chief Executive Larry Ellison testified Friday that he and his board of directors came close to a merger with PeopleSoft in 2000, and had expected that last year’s takeover bid would have been accepted within a matter of weeks.
Ellison indicated that he had never anticipated the roadblocks that PeopleSoft’s then-CEO, Craig Conway, would put in place to thwart the proposed acquisition. Those roadblocks included a lobbying campaign to persuade state governments and the U.S. Department of Justice to block the deal, the adoption of a “poison pill” scheme, and the filing of a lawsuit that temporarily derailed the proposed purchase.”