WSJ.com - Oracle Sets Deal to Acquire PeopleSoft for $10.3 Billion

PeopleSoft Inc. agreed to be acquired by Oracle Corp. for $26.50 a share in cash, or $10.3 billion, ending 18 months of resistance to a hostile takeover.

Oracle brought an end to the hostilities by raising its offer from $24 a share, which PeopleSoft's board had rejected as inadequate. The final offer represents a 75% premium from PeopleSoft's market value before Oracle launched the takeover battle in June 2003.