Uneasy Days for PeopleSoft Users

The saga of PeopleSoft Inc. (Nasdaq: PSFT) and Oracle Corp. (Nasdaq: ORCL) looks set to run and run, prompting concern among PeopleSoft's customers.

Specifically, some users are edgy about the future of PeopleSoft's products under an Oracle regime. I would like to see a proper resolution to this situation,” says Clyde Morrell an IT manager responsible for Brigham Young University’s relationship with PeopleSoft. “I don’t care how long it takes.”

Oracle's attempted takeover of PeopleSoft has become one of the IT industry’s top soap operas. In the latest chapter, PeopleSoft shareholders had until midnight EST last Friday to respond to Oracle's $24 a share buyout offer (see PeopleSoft/Oracle: Shareholders Split and Oracle Solicits PeopleSofters).

Within hours of the deadline passing, Oracle announced that more than 60 percent of shares had been tendered, and Oracle officials urged the PeopleSoft board to finally give in (see Oracle Gets Mandate From PeopleSoft and Oracle Battles With PeopleSoft).

But -- surprise, surprise! -- PeopleSoft is having none of it. In a statement released over the weekend, the board members reiterated their stance, claiming that the company is worth more than the $24 on the table. Just to make themselves clear, the board said the company's value beats even Oracle’s previous top offer of $26 (see PeopleSoft Comments on Oracle's Offer ).