When Oracle's initial offer expired at midnight Tuesday, PeopleSoft shareholders had tendered about 75 percent of the stock, the company said in a statement.

"The combination of these two companies brings together some of the best products and people in the enterprise applications market, all for the benefit of the customer," Oracle chief executive Larry Ellison said.

"We are moving forward quickly with the integration planning process and have been pleased by the level of coordination as we combine the two organizations."

Oracle named four representatives to PeopleSoft's board to replace members who had resigned.

PeopleSoft founder Dave Duffield resigned December 21, according to a notice filed with the Securities and Exchange Commission.

The 63-year-old Duffield had returned to the post October 1, after the board fired former chief Craig Conway over concerns that he made misleading statements during the takeover battle with Oracle.

Oracle announced a new period for PeopleSoft shareholders to sell at the 26.50-dollar offer price, lasting from Wednesday until January 4.

If at least 90 percent of PeopleSoft shares are tendered by the end of the new offering period, Oracle said it expected to complete the second-step merger shortly after expiration.

The Oracle-PeopleSoft takeover saga was dotted with courtroom fights and legal maneuvers.

One key to the deal was a failed effort by the US Justice Department to block it on antitrust grounds.

This had been one element of the PeopleSoft defense, but a federal judge ruled in September that the deal would not pose a monopoly threat, and the US government dropped its objections shortly afterward.

The European Commission followed suit on October 26, saying it would not block the deal, either.

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