MercuryNews.com | 10/12/2004 | Bid may be cut by a third

MercuryNews.com | 10/12/2004 | Bid may be cut by a third: "A top Oracle executive testified Monday that the software giant may lower its $21-a-share bid for rival PeopleSoft by as much as one-third.
Oracle Co-President Safra Catz, who first approached Chief Executive Larry Ellison with the idea of buying PeopleSoft, said the Pleasanton company's recent weak financial performance is the key reason Redwood Shores-based Oracle is contemplating lowering its $7.7 billion offer.
``The direction is down significantly,'' she said in response to questions from her attorneys in the Delaware Chancery Court, according to the Associated Press."