PeopleSoft Plans to Reject Latest Oracle Bid -- Report

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.

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