Is PeopleSoft waiting for the right price?

Is PeopleSoft waiting for the right price? | CNET News.com: "PeopleSoft may be willing to be bought by Oracle after all--if the price is right.

Steven Goldby, a PeopleSoft board member, testified Tuesday in the trial taking place in Delaware that a sale would be possible if Oracle upped its offer and there was a 'high certainty' that the deal could close quickly, the Associated Press reported.

Last week's departure of former PeopleSoft CEO Craig Conway, an outspoken foe of any such acquisition, has prompted speculation that the company now may be more receptive to a deal.

Goldby's remarks amplify what he said during his first day on the witness stand Monday. In response to a question from an Oracle attorney, Goldby said the initial offer made last June was at a 'price I considered ridiculously low.'

But PeopleSoft's management quickly downplayed Goldby's remarks. 'He's speaking for himself,' not for the board, PeopleSoft's Steve Swasey, director of corporate public relations, told Bloomberg.

In the Delaware trial, Oracle is seeking to remove PeopleSoft's shareholder rights plan, an antitakeover measure commonly referred to as a 'poison pill' and one of the last obstacles to the acquisition if the European Commission does not try to block the deal.

In addition, Oracle is asking the Chancery Court to prohibit PeopleSoft from continuing to offer its customer assurance program, which Oracle describes as a de facto poison pill but one that PeopleSoft views as necessary to continue to attract prospective customers."

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Now if you ask me I say Larry Ellison is the biggest bully. Hes tryin to be Suge Knight. I wish I could throw some money around and get my way. This should go down in history as the prime example/definition of a "HOSTILE TAKEOVER". A friend of mine says Suge would be lucky to be Larry and not be in jail. Another friend says that you cant blame Larry for tryin to make Oracle the bomb. If he was Larry he would do the same thing. That Larry is doing his job as a CEO and bringing shareholder value to his company.

I can see all sides of the coin and I say depending on how you look at it I'd have to say I just may do the same thing. :)