Oracle buys PeopleSoft for $10.3 billion

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Redwood Shores, Calif.—-Putting an end to an 18-month takeover battle, Oracle Corp. signed a definitive merger agreement to acquire rival software company PeopleSoft for $26.50 a share, valuing the deal at roughly $10.3 billion.

Oracle sweetened its bid by roughly 10% after PeopleSoft rejected an offer of $24 a share three weeks ago.

The transaction has been approved by the boards of directors of both companies and is expected to close by early January.

—Kate Maddox

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