December 2, 2003 9:42 AM PST
PeopleSoft completes stock buyback
The buyback is one of numerous strategies PeopleSoft has undertaken to fight rival Oracle's $7.3 billion hostile bid to take over the company. While Oracle executives repeated their desire to complete the acquisition last week, PeopleSoft continues to make moves aimed at making the deal less plausible. Last month the company extended a controversial customer refund program that Oracle maintains would trap any acquiring company in a web of costly fees and moved up a deadline for nominating new board members, thus reducing the amount of time Oracle has to line up sympathetic candidates.