Reuters is reporting that industry giant, Oracle, is likely to get EU approval for its hostile bid for PeopleSoft. The EU has yet to give a formal response / decision regarding the review, but sources have told Reuters that the announcement will come soon.
The EU suspended the investigation months ago, pending the resolution of a US court case into the merger attempt. The court case ended out siding with Oracle, meaning the merger / take over could proceed. The judge's decision over-road a DoJ attempt to block the merger on the basis that it broke US anti-competition laws.
Oracles bid for PeopleSoft, a database vendor, hit trouble after the PeopleSoft board rejected renewed attempts for a takeover. Currently, Oracle are offering PeopleSoft shareholders $21 per share.
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