SAP shares were among the top gainers in Germany’s blue-chip DAX index, rising as much as 3.3% during trading last Friday. The company’s stock also rose nearly 3.6% by the close of Nasdaq last Friday at $40.36.
Financial analysts believe that Conway’s sacking will pave the way forward for Oracle Corp’s takeover of the Pleasanton, California-based applications provider.
The merger speculation is a positive one for SAP which is hoping to take advantage by luring away anxious PeopleSoft customers.
PeopleSoft’s board removed Conway last Friday after a loss in confidence in his ability to lead the company. His immediate replacement is PeopleSoft founder and chairman Dave Duffield.
