Oracle Seeks Financing for PeopleSoft Purchase
Oracle Corp. is negotiating with lenders to help finance its $10.3-billion acquisition of PeopleSoft Inc., Oracle said in a Securities and Exchange Commission filing.
PeopleSoft, of Pleasanton, Calif., accepted a $26.50-a-share offer to end an 18-month takeover battle. Oracle expects to complete the purchase in January, creating the No. 2 provider of business-applications software behind Germany’s SAP.
Credit Suisse First Boston has arranged a $1.5-billion, 364-day revolving credit line as part of the financing for the deal. Redwood City, Calif.-based Oracle had $9.4 billion in cash, cash equivalents and short-term investments as of Nov. 30.
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