Business software company Oracle has finally succeeded in its bid for rival PeopleSoft by offering a sweetened purchase deal worth about $10.3 billion.
Oracle's offer to buy PeopleSoft at $26.50 per share was approved by both boards of directors, Oracle said in a statement. Oracle's previous offer was $24 a share.
The deal should close by early January.
Oracle, which reported better-than-expected fiscal second-quarter earnings moments before announcing the PeopleSoft deal, said the acquisition would add about 1 cent per share to its fiscal-fourth quarter results, excluding certain items, and about 2 cents a quarter or eight cents in fiscal 2006.
READ MORE
It will add "a bit more" in its 2007 fiscal year, the company said.