PeopleSoft is in the market to provide the infrastructure for companies to build a collaborative network between their customers, suppliers and employees via the Internet.
I could imagine no price or combination of price and other conditions to recommend accepting the offer to our shareholders.
Although we have been able to meet or exceed our financial projections since Oracle launched their hostile tender offer more than a year ago, the extensive publicity of the antitrust trial during the last month of our quarter was impossible to completely overcome.
We've never considered or thought we really needed a white knight. We're a very strong, powerful company and the end result is really assured.
PeopleSoft's strong performance in this challenging economic environment is a direct result of continued market acceptance of PeopleSoft 8 enterprise applications.
Oracle's offer seeks to enrich Oracle at the expense of PeopleSoft's stockholders, customers and employees, ... We believe that Oracle's proposed acquisition of PeopleSoft would stifle competition and limit customer choice.
We believe the adverse impact to our business has been substantial, with even greater impact this past month.
PeopleSoft is committed to the J.D. Edwards acquisition, ... We believe that the continued execution of our strategy will create significantly higher stockholder value.
Atrociously bad behavior from a company with a history of atrociously bad behavior.