Oracle nominates five to Peoplesoft board

Oracle Corp. plans to nominate five people to the Peoplesoft Inc. board of directors, as part of its ongoing quest to take over its rival firm.

The new board members, said Oracle spokesman Jim Finn, "will exercise independent judgment in considering the Oracle tender offer and any other matters before the PeopleSoft board and provide independent representation for the true owners of PeopleSoft -- the stockholders."

Peoplesoft "has consistently refused to consider its stockholders' best interests" in repeatedly rebuffing Oracle