Peoplesoft sees Oracle as a predator and not a partner

The new offer values Peoplesoft, a maker of business management software, at $9.4bn (�5.1bn; 7.5bn euros), or $26 a share.

Oracle's previous offer valued Peoplesoft at $19.50 a share.

Peoplesoft has classed Oracle's bids as hostile and put up strong resistance to the unwanted approach.

Fierce battle

Oracle has said that it will not raise its offer again and is hoping it is now high enough to win over Peoplesoft shareholders.

At a meeting on 25 March, Peoplesoft shareholders will be asked to vote on a new board of directors for the company.

Oracle has put forward five new candidates in an attempt to gain control of the board.

Peoplesoft's resistance to the takeover attempt is supported by its staff, some of whom have set up a website promoting the benefits of keeping the firm independent.

And Tom Pico, the mayor of Pleasanton - where Peoplesoft is based - has also spoken out against Oracle's takeover attempt.

"The situation as I see it is Oracle wants to gobble up and eliminate some additional competition," he told the BBC's World Business Report.

Another potential problem for Oracle's bid is that it needs the approval from anti-monopoly watchdogs in both the US and Europe.

The US Department of Justice is expected to give its verdict on the offer by 12 March.