05/12/97 LARRY ELLISON'S LEAD BALLOON

LARRY ELLISON'S LEAD BALLOON

WAS LARRY ELLISON'S BID to take over struggling Apple Computer a mere ego trip? That's what critics of the flamboyant Oracle CEO are saying after he ended it on Apr. 29. Whatever his motive, there's evidence he wasn't trying very hard.
Ellison's plan was to acquire 10% of Apple and launch a proxy fight, associates say. But he has yet to talk to top Apple investors such as CalPERS, an obvious candidate, which named Apple 1996's worst-run company. While he claimed to have ''an investment group,'' the only known member is Geneva Group head Igor Sill. Insiders say Ellison never spent much time working up details on his plan, which he said in mid-April he would present soon. When he folded his bid, he was in Antigua to race his yacht Sayonara. The statement said he wouldn't rule out a future try. Neither Ellison nor Apple will comment.
High-tech execs who know Ellison think he was floating a trial balloon and backed off in the face of Apple's problems. Meanwhile, a caption for his photo in the next Vanity Fair states: ''By the time this article comes out, I should be chairman of Apple.''
EDITED BY LARRY LIGHT
Peter Burrows