Oracle Increases Cash Tender Offer for Retek to $11.25 per Share
18 March 2005 - 1:16PM
PR Newswire (US)
Oracle Increases Cash Tender Offer for Retek to $11.25 per Share
Retek and Oracle Share a Vision of Applications Built Using
Industry Standards REDWOOD SHORES, Calif., March 17
/PRNewswire-FirstCall/ -- Oracle Corporation (NASDAQ:ORCL) today
announced it is raising its cash tender offer to purchase all of
the outstanding shares of Retek Inc. (NASDAQ:RETK) to $11.25 per
share. Oracle already purchased 5.5 million shares of Retek common
stock, representing nearly 10 percent of total shares outstanding.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020718/ORCLLOGO ) "Our
North American applications business is larger than SAP's," said
Oracle CEO Larry Ellison. "We intend to defend our number one
position. Customers have told us they want Oracle to buy Retek.
Retek's applications are built on Oracle's technology platform. And
Retek and Oracle share a vision of applications built using
industry standards like Java, not proprietary programming languages
like SAP's ABAP." THIS PRESS RELEASE IS FOR INFORMATIONAL PURPOSES
ONLY AND IS NOT AN OFFER TO BUY OR THE SOLICITATION OF AN OFFER TO
SELL ANY SHARES. THE SOLICITATION AND THE OFFER TO BUY RETEK'S
COMMON STOCK WILL ONLY BE MADE PURSUANT TO AN OFFER TO PURCHASE AND
RELATED MATERIALS THAT ORACLE CORPORATION FILED ON MARCH 9, 2005.
STOCKHOLDERS SHOULD READ THESE MATERIALS CAREFULLY BECAUSE THEY
CONTAIN IMPORTANT INFORMATION, INCLUDING THE TERMS AND CONDITIONS
OF THE OFFER. STOCKHOLDERS MAY OBTAIN THE OFFER TO PURCHASE AND
RELATED MATERIALS WITH RESPECT TO THE TENDER OFFER FREE AT THE
SEC'S WEBSITE AT WWW.SEC.GOV OR FROM ORACLE CORPORATION.
http://www.newscom.com/cgi-bin/prnh/20020718/ORCLLOGO
http://photoarchive.ap.org/ DATASOURCE: Oracle Corporation CONTACT:
Jenny Gelhausen, Director of Investor Relations, +1-650-506-1717,
or Jeff Lettes, Vice President of Corporate Communications,
+1-650-506-9564, both of Oracle Corporation Web site:
http://www.oracle.com/
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