Monday, October 3, 2011

A Corporate Press Release that's Interesting

Holy cow. I don't know what the parties are disputing, or why, but if more corporate press releases were like this, I would read them. Right or wrong, Oracle has pwned every corporate flack ever hired with this:

Oracle Issues Statement

REDWOOD SHORES, Calif., September 28, 2011

"After HP agreed to acquire Autonomy for over $11.7 billion dollars, Oracle commented that Autonomy had been ‘shopped’ to Oracle as well, but Oracle wasn’t interested because the price was way too high.  Mike Lynch, Autonomy CEO, then publicly denied that his company had been shopped to Oracle.  Specifically, Mr. Lynch said, “If some bank happened to come with us on a list, that is nothing to do with us.” Mr. Lynch then accused of Oracle of being ‘inaccurate’.

Either Mr. Lynch has a very poor memory or he’s lying.

‘Some bank’ did not just happen to come to Oracle with Autonomy ‘on a list.’

The truth is that Mr. Lynch came to Oracle, along with his investment banker, Frank Quattrone, and met with Oracle’s head of M&A, Douglas Kehring and Oracle President Mark Hurd at 11 am on April 1, 2011.

After listening to Mr. Lynch’s PowerPoint slide sales pitch to sell Autonomy to Oracle, Mr. Kehring and Mr. Hurd told Mr. Lynch that with a current market value of $6 billion, Autonomy was already extremely over-priced.

The Lynch shopping visit to Oracle is easy to verify.

We still have his PowerPoint slides.”


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