Oracle again outbids SAP for Retek

18 March 2005 Oracle and SAP continued their bidding war for Retek yesterday with Oracle upping its offering for the supply chain software maker to $645 million or $11.25 a share.

The move came barely twelve hours after business applications vendor SAP was forced to raised its offer to $617 million (up from an original ‘agreed’ sale price of $496 million).

According to analysts, the price could go even higher. Retek’s stock price closed yesterday at $11.65, double its value on 25 February when the bidding war began.

Retek’s board had previously accepted SAP’s “best and final” offer and agreed to pay $15 million if it pulled out of the deal. With SAP’s revised bid, that was raised to $25 million.

In a separate development, Oracle has been left without a CFO after Harry You, who only took the top finance job eight months ago, resigned to become CEO of BearingPoint, the consulting and business services company formerly known as KPMG.

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Ben Rossi

Ben was Vitesse Media's editorial director, leading content creation and editorial strategy across all Vitesse products, including its market-leading B2B and consumer magazines, websites, research and...

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