WSJ.com - PeopleSoft Rejects $9.2 Billion Bid From Oracle Corp.: "PeopleSoft executives, meanwhile, vowed to continue to resist Oracle even if a majority of holders tender their shares. Unless Oracle persuades a Delaware judge to lift PeopleSoft's 'poison pill' takeover defense, the two sides are likely to mount a proxy fight at the company's annual meeting next year that would settle the battle.
'We recognize a tender offer for what it is: a nonbinding straw poll,' said Kevin Parker, PeopleSoft's chief financial officer. Any such poll could lead to a proxy fight, 'which we certainly see in our future.'
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The shareholders' will remains unclear. Clark Chang, an analyst for Fulcrum Global Partners, noted that the stock price hasn't fallen sharply, suggesting that holders feel a deal may get done."
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