JDE/Peoplesoft Done Deal

NEW YORK, July 18 — PeopleSoft Inc. (NASDAQSFT) said on Friday it completed its acquisition of J.D. Edwards (NASDAQ:JDEC).
PeopleSoft said it has purchased about 88 percent of J.D. Edwards outstanding shares and expects to purchase the remaining shares of the company by the end of August.

J.D. Edwards' top executives have agreed to remain at the combined company for six months to help PeopleSoft management. Bob Dutkowsy, J.D. Edwards' CEO, will receive $2.6 million and Richard Allen, J.D. Edwards' chief financial officer, will receive $1.8 million for staying on board.