PeopleSoft completes J.D. Edwards acquisition

PeopleSoft has purchased approximately 110 million shares, or 88% of the outstanding shares of J.D. Edwards, and expects to acquire the remaining shares before the end of August 2003.

The transaction is expected to be accretive to PeopleSoft’s 2004 earnings per share on an adjusted basis excluding amortisation associated with acquired intangibles, the write-down of deferred revenue and other purchase accounting adjustments.

J.D. Edwards stockholders who tendered into the exchange offer will receive the value of $14.7384 in cash, PeopleSoft stock or a combination of cash and stock for each share of J.D. Edwards common stock.

J.D. Edwards stockholders who did not tender their shares will receive $7.05 in cash plus 0.43 of a PeopleSoft common share for each J.D. Edwards share.

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