The European Commission has resumed its probe of Oracle's $7.7 billion hostile attempt to buy PeopleSoft, in a bid to complete approval before Competition Commissioner Mario Monti leaves office, sources familiar with the situation said on Thursday.
The new deadline for Commission action is Nov. 9, nine days after Monti is due to leave office. Nonetheless, the Commission is aiming to complete its work before then. Monti on Wednesday told a news conference in Washington, D.C., that he expected the clock to start soon, adding: "This should make it possible for the Commission to make a final decision on this case before the end of October."
News source: C|Net News.com
The new deadline for Commission action is Nov. 9, nine days after Monti is due to leave office. Nonetheless, the Commission is aiming to complete its work before then. Monti on Wednesday told a news conference in Washington, D.C., that he expected the clock to start soon, adding: "This should make it possible for the Commission to make a final decision on this case before the end of October."
News source: C|Net News.com
Cont...
At present the new venture is being called "Exclaim," but this is apparently only a temporary name and is likely to be replaced before the firm starts trading. Cousens is joined in the new venture by Europlay Capital Advisers, the Los Angeles based firm which is headed by industry veterans Sean Brennan and Mark Dyne and has advised on a number of major industry deals in recent years.
It's expected that along with the Cheltenham and Manchester studios - accounting for some 160 employees - "Exclaim" will also take possession of several of Acclaim's products in development, including Interview with a Made Man and Heist.
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