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Oracle gives PeopleSoft shareholders more time

Deadline extended while the software maker waits for a ruling in Justice Department's antitrust case.

Oracle extended the deadline on Thursday for PeopleSoft investors to tender their shares in its hostile bid to acquire its business software rival. The offer, which was set to expire on Friday, is good through Sept. 10. The $7.7 billion dollar deal offers $21 for each share of PeopleSoft stock.

The move was widely expected, given that Oracle is waiting for a decision in an antitrust suit brought by the U.S. Justice Department over the takeover bid. A U.S. District Court judge is expected to rule on the case in a matter of days.