Ruling On PeopleSoft Takeover Bid Close, Says Oracle
According to business software manufacturer, Oracle, a ruling on its planned
hostile takeover of rival firm, PeopleSoft is one step closer, after it provided
the US Department of Justice with more information, in order to facilitate the
DOJ's investigation into whether the deal is anti-competitive. "Earlier this week, we certified our substantial compliance with the Department
of Justice's second request for information," an Oracle spokeswoman announced
last week. Ordinarily, following receipt of all relevant information, the Justice Department
would have 10 business days to decide whether to allow the takeover bid to go
ahead. However, the spokeswoman revealed that this consideration period may
be extended, if a mutually acceptable time frame can be agreed upon by both
sides. A decision on the matter by the European Commission is also pending. .
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