Oracle Corporation is being sued by PeopleSoft following what the latter described as ‘a sham tender offer aimed at destroying PeopleSoft’s business’. The complaint, filed in Alameda County Superior Court, alleges that Oracle has engaged in ‘unfair business practices, trade libel and tortuous interference’ with PeopleSoft’s customer relationships. According to the suit, Oracle’s true intent in making the tender offer was to undercut PeopleSoft’s business operations by disparaging PeopleSoft’s products, services, and future prospects, undermine PeopleSoft’s viability by creating uncertainty and doubt in the minds of PeopleSoft’s customers and prospective customers, and interfere with PeopleSoft’s plan to merge with J. D. Edwards and Company. PeopleSoft also alleges that Oracle’s accompanying media campaign grossly misleads the market concerning Oracle’s ability to provide continuing support to existing PeopleSoft customers, and fails to disclose the substantial obstacles and costs facing PeopleSoft customers that would need to migrate to an Oracle platform. Regarding the acquisition of J.D. Edwards, both parties have amended the definitive agreement. The amended agreement is designed to allow the two companies to accelerate the completion of the transaction, bring forward the benefits of their combination and increase the accretion to earnings per share for PeopleSoft stockholders.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more