Oracle says it now holds more than 97% of erstwhile rival PeopleSoft, and is completing the acquisition of the company today.
The group announced yesterday that PeopleSoft shareholders had tendered about 388.68 million shares to Oracle, which had accepted for payment all shares tendered.
It says that as a result, the merger will take place today.
"Following the merger, PeopleSoft will be a wholly owned subsidiary of Oracle," it adds.
The offer for PeopleSoft shares was to have closed earlier this week, but was extended to today after Oracle`s shareholding reached only 89.4%.
In terms of Delaware law, it needed 90% to be able to carry out an expedited merger.
The new merged company is to be launched via a Webcast on 18 January.
The effect of the deal on job numbers has yet to be made public, although some reports suggest that a related announcement will be made on 15 January.
Oracle and PeopleSoft`s South African operations are not permitted to comment on the merger.
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