PeopleSoft shareholders, Oracle ask judge to order lifting of "poison pill" provisions

[JURIST] A group of dissident PeopleSoft shareholders have asked a Delaware judge to order PeopleSoft's board to negotiate with Oracle, the rival software maker trying to acquire PeopleSoft, according to a Tuesday Wall Street Journal report. The shareholders have asked Vice Chancellor Leo Strine Jr. to reopen a lawsuit against PeopleSoft and to order the PeopleSoft board to drop a "poison pill" anti-takeover measure blocking Oracle's efforts to acquire PeopleSoft. Chancellor Strine is also considering a request from Oracle to order PeopleSoft to lift the anti-takeover provisions. Reuters has more.



 

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