Oracle builds PeopleSoft war chest

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Oracle has raised another US$1.5 billion to fund its US$7.5 billion takeover bid for PeopleSoft.

 

In a filing with the US Securities and Exchange Commission, Oracle said it has negotiated a US$1.5 billion line of credit with ABN Amro Bank, Credit Suisse First Boston and other lenders.

 

Oracle said it had a full US$8.1 billion on hand 30 November needed to complete the deal.

 

Earlier, Oracle had extended the deadline for its initial offer from 31 December to 13 February 2004.

 

PeopleSoft has been resisting the hostile acquisition bid and says it is confident it will ward off the unsolicited tender offer.

 

The takeover bid has been delayed as US and European antitrust regulators examine the issue.

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