Oracle Chairman Says Higher Bid Is 'Fantasy'

From Bloomberg News

Oracle Corp. Chairman Jeff Henley said the idea that his company would pay $26 a share for business software maker PeopleSoft Inc. was a "fantasy."

Oracle has bid $21 for each PeopleSoft share in a purchase valued at $7.7 billion.

"I'm convinced that probably they're not worth more than $21 -- they might be worth less," Henley said in Germany.

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