Business software maker PeopleSoft, which is trying to fight off a hostile bid by Oracle, today raced ahead to launch its $1.75 billion offer for smaller industry player JD Edwards.
PeopleSoft's tender offer to JD Edwards shareholders comes one day after Oracle turned up the pressure on PeopleSoft by raising its own bid by more than $1 billion, to $6.3 billion.
PeopleSoft's aim is to seal a deal with JD Edwards and create another hurdle for Oracle, which so far has been reluctant to absorb JD Edwards. A series of tactical manoeuvres has resulted in a three-way grudge match that has escalated into one of the software industry's nastiest fights in years, with no signs of an imminent truce.
Oracle began its pursuit of PeopleSoft four days after it announced plans to buy JD Edwards. PeopleSoft has sued to block the advances and added a cash component as another way to hasten to its friendly deal with JD Edwards.
Oracle has asked PeopleSoft and JD Edwards to cancel their deal. It also filed a lawsuit on Wednesday to block the deal and to strip PeopleSoft of its poison pill takeover defence mechanism.