The Justice Department announced Friday that it will not appeal a court ruling against it in the Oracle antitrust case, reducing the number of obstacles the software company must clear in its hostile takeover bid for PeopleSoft.
The federal law enforcement agency, which in February filed a lawsuit to block the deal on antitrust grounds, said it would not appeal Judge Vaughn Walker's decision. The judge ruled against a number of key arguments the Justice Department cited during the trial, ultimately allowing Oracle to proceed with pursuing its merger plans.
"We have decided not to appeal the district court's decision," said Hewitt Pate, assistant attorney general for the Justice Department. "The evidence, including the testimony of numerous customers, strongly supported our case against this proposed transaction. While we disagree with the district court's disappointing decision, we respect the role of the courts in the United States merger review process."
News source: C|Net News.com