US business software manufacturer, PeopleSoft announced last week that it had acquired 88% of shares in smaller firm, J.D. Edwards, and expects the merger between the two companies to be completed by the end of August.
This complicates the situation for Oracle, which recently launched a - strenuously resisted - hostile takeover bid for PeopleSoft. In addition to facing an antitrust investigation from the US Department of Justice, Oracle will now be obliged to pay upwards of a billion dollars more than its original offer, in order to acquire the combined firm.
Oracle's executive, vice-president, Chuck Phillups announced on Thursday that the firm was 'in it for the long haul', and indeed Oracle has extended the deadline for its offer - due to expire last week - to August 15. However, some observers believe that the chances of the deal going ahead have been reduced by the DoJ's scrutiny of the proposed merger, and by this latest development.
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