Empire, Buckeye States Join CalPERS in PeopleSoft Tender Offer

November 19, 2004 (PLANSPONSOR.com) - Two days after public pension giant California Public Employees' Retirement System (CalPERS) tendered its PeopleSoft shares to Oracle Corp. in Oracle's hostile takeover bid, funds in New York and Ohio have followed suit.

The New York State Common Retirement Fund, which invests forThe New York State and Local Employees’ Retirement System and the Police and Fire Retirement System, revealed Friday that it was tendering its 2.2 million shares (about 0.5% of outstanding shares) to Oracle’s $8.8-billion deal, Reuters reported.

“We have agreed to tender PeopleSoft’s shares,” John Chartier, a spokesman for New York State Comptroller Alan Hevesi, told Reuters.

Meanwhile, Ohio’s state pension fund said on Friday it will tender its 527,790 shares of PeopleSoft Inc.

The decision by the $119-billion New York fund and the Ohio fund followed the move by CalPERS on Wednesday to tender its 1.5 million shares , or 0.4% of the stock. (See  CalPERS Tenders PeopleSoft Holdings to Oracle ).