Oracle Rejected Autonomy's Price Tag As "Absurdly High"
After Hewlett-Packard announced its plans to acquire Autonomy, Oracle CEO Larry Ellison (pictured) claimed that Autonomy had been shopped to Oracle, but Oracle decided against bidding for the company.
"Autonomy was shopped to us," Ellison said during an earnings call in September 2011. "We looked at the price and thought it was absurdly high. We had no interest in making the Autonomy acquisition."
Autonomy CEO Mike Lynch issued a denial that he had shopped the company to Oracle. That set off some dueling press statements between both parties (one Oracle press release was headlined "Another Whopper from Autonomy CEO Mike Lynch"). For good measure Oracle posted the presentations Autonomy sent to Oracle president Mark Hurd and they're still available online today.