Monday, September 12, 2005
Oracle to buy rival Siebel for $5.85 bln - Yahoo! News:
"PHILADELPHIA (Reuters) - Oracle Corp. (Nasdaq:ORCL - news) on Monday said it will buy rival software company Siebel Systems Inc. (Nasdaq:SEBL - news), which has been long-mentioned as a possible takeover target, for $10.66 a share in a deal that valued Siebel at $5.85 billion.
Oracle, which will become the world's biggest customer relationship management software maker if the deal goes through, said the agreement was worth $3.61 billion after subtracting Siebel's $2.24 billion in cash.
The price per share represents a 16.8 pct premium to Siebel's closing share price of $9.13 on Friday.
Siebel gained prominence in the late 1990s as a top maker of software that helps companies better understand and manage their relationships with customers, one of the market's fastest-growing areas.
But as Siebel's share of that market gets chipped away by stiff competition, analysts have increasingly considered it a prime takeover prize for a rival like Oracle..."
"PHILADELPHIA (Reuters) - Oracle Corp. (Nasdaq:ORCL - news) on Monday said it will buy rival software company Siebel Systems Inc. (Nasdaq:SEBL - news), which has been long-mentioned as a possible takeover target, for $10.66 a share in a deal that valued Siebel at $5.85 billion.
Oracle, which will become the world's biggest customer relationship management software maker if the deal goes through, said the agreement was worth $3.61 billion after subtracting Siebel's $2.24 billion in cash.
The price per share represents a 16.8 pct premium to Siebel's closing share price of $9.13 on Friday.
Siebel gained prominence in the late 1990s as a top maker of software that helps companies better understand and manage their relationships with customers, one of the market's fastest-growing areas.
But as Siebel's share of that market gets chipped away by stiff competition, analysts have increasingly considered it a prime takeover prize for a rival like Oracle..."
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