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Business briefs for June 12, 2003

Thursday, June 12, 2003 | 11:33 a.m.

Software maker rejects offer

SAN FRANCISCO -- Business software maker PeopleSoft announced today that its board of directors unanimously voted to recommend that stockholders reject a $5.1 billion hostile takeover bid by Oracle Corp.

PeopleSoft has backed off a threat to ask a court to block the unsolicited deal with its bitter rival, but executives said they still have antitrust concerns.

CB Richard Ellis:

Mark Bouchard, formerly of Thomas & Mack Development Group, was named managing director of CB Richard Ellis' Las Vegas office, effective July 1.

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