PeopleSoft ( PSFT) reportedly is preparing to reject Oracle's ( ORCL) $19.50-a-share takeover offer. PeopleSoft executives are worried that a potential transaction wouldn't survive antitrust muster and would cause a problematically long regulatory review, people familiar with the deal told The Washington Post. Earlier this week, Oracle raised its bid for PeopleSoft to $6.3 billion, or $19.50 a share, saying discussions with the company's institutional shareholders suggested that was a price at which they were willing to sell. PeopleSoft began its own $1.75 billion tender for J.D. Edwards ( JDEC) Thursday.