Oracle, PeopleSoft Merger to Close Friday
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Oracle announced late Thursday that the merger with PeopleSoft was expected to close on Friday, and is taking steps to quickly integrate the two companies. Friday's events will signal the end of a year-long contentious battle between the two companies that resulted in courtroom battles, departures of several high-level PeopleSoft executives, and the firing of PeopleSoft's CEO.
At the end of a statement to the press, Oracle made clear PeopleSoft's new position in the merged company: "following the merger, PeopleSoft will be a wholly-owned subsidiary of Oracle."