Oracle to buy Siebel in deal worth $5.8 billion
Margaret Kane writes in C|Net News:
Software maker Oracle has agreed to acquire competitor Siebel Systems in a deal worth around $5.8 billion, the companies said Monday.
Siebel makes software for handling customer relationship management, or CRM. Oracle said its acquisition will add 4,000 customers and 3.4 million CRM users.
Oracle will offer $10.66 for each share of Siebel stock, a nearly 17 percent premium over the company's $9.13 closing price Friday.
Siebel has been a subject of takeover rumors for a while, particularly since the departure of CEO Mike Lawrie. Oracle CEO Larry Ellison included the company in a list of takeover targets during Oracle's contentious battle over the acquisition of PeopleSoft.
posted by Fergie @ 9/12/2005 07:41:00 AM
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