[JURIST] In Monday's corporations and securities law news, Oracle Corp. announced it was boosting its hostile bid for PeopleSoft to $9.2 billion. Oracle raised its offer after the EU approved its bid believing PeopleSoft will remove the remaining barriers to a deal. Read the Oracle press release here. Read a transcipt of Oracle's conference call here [PDF]. Read the letter sent by Oracle to PeopleSoft calling this their final and best offer here [PDF]. AFP has more.
In other news, Nathan Chapman Jr., a former pension fund manager in Maryland, was sentenced to 7 and a half years in prison on charges he defrauded the state retirement system and looted his own investment company. Chapman was also ordered to pay $5 million restitution. The Baltimore Business Journal has more.... GE Commercial Finance will lend Delta Air Lines Inc. $500 million of financing in a move to help the troubled airline avoid bankruptcy. AP has more.... As previously reported on JURIST's Paper Chase, in more troubling news for oil giant Yukos, Russian tax authorities hit the company and its main production unit with two new tax claims for nearly $10 billion. The company now owes a total of $17.6 billion to the government. Paper Chase has background on Russia's case against Yukos. The Russia Journal has continuing coverage of Yukos' court battles. AP has more.... US regulators are investigating ABN Amro, the Netherlands' largest bank, for possible money laundering violations. AP has more.... As previously reported on JURIST's Paper Chase, Florida's Supreme Court will hear arguments Wednesday in its review of a lower court ruling throwing out a $145 billion jury verdict against the tobacco industry. The Florida Supreme Court has briefs and other case documents. AP has more.... Argentina has submitted its debt restructuring offer to the SEC which allows the country to reschedule payments on about $100 billion of debt. Bloomberg has more.