Has Oracle finally breached PeopleSoft's defences? Winning support from a majority of shareholders for its PeopleSoft bid would mark a victory. But it would not end the 17-month war of attrition in the software industry.

Basically, it made sense for PeopleSoft shareholders to tender their shares. Failure to do so risked having Oracle walk away from its $24-a-share offer, leaving PeopleSoft shares to fall. Tendering at least keeps Oracle in the fight and sends a clear message to PeopleSoft that shareholders want a deal.