Shares of PeopleSoft rose $2.73, to $36.84.
More important in the short term, a takeover of PeopleSoft would boost Oracle's finances.
One prominent failure involved Oracle's acquisition of PeopleSoft in 2004.
It would take two annual meetings to elect a majority of PeopleSoft's board.
Mr. Bhusri went to Greylock, but continued to serve as vice chairman of PeopleSoft.
Its co-chief executives, David Duffield, the founder of PeopleSoft, and Aneel Bhusri, whose was chief strategist at PeopleSoft, will have 67 percent of the voting rights after the I.P.O., according to the prospectus.
Dozens of acquisitions were made, including multibillion-dollar purchases of PeopleSoft (2005), Siebel (2006), BEA (2008), and Sun Microsystems (2010).
Last month, more than 60% of PeopleSoft's shareholders voted to accept Oracle's most recent offer of $24 a share a healthy premium to PeopleSoft's share price at the time.
PeopleSoft also said Oracle's timing of its announcement with the start of PeopleSoft's annual executive conference next week is further evidence of Oracle efforts to hurt PeopleSoft's business.
Internal e-mail messages of the Oracle Corporation show executives knew that their hostile bid for PeopleSoft would hurt sales of PeopleSoft's software and urged analysts to advise clients to delay purchases of the stock, PeopleSoft said in court documents.
Craig Conway, the chief executive of PeopleSoft, said the board rejected Oracle's offer because it was certain to hit regulatory snags, undervalued PeopleSoft and did not take into account the value created by PeopleSoft's acquisition of J. D. Edwards.
