Takeover attempt takes its toll

You have to give Oracle points for determination.

The software company has been thwarted at nearly every turn in its effort to acquire rival PeopleSoft, and that may have just been a warm-up. Oracle will head to U.S. District court on Monday to defend its hostile $7.7 billion bid against federal trustbusters, who say the proposed buyout would result in price hikes for software that big companies use to organize their accounting, sales and human resources activities.

The trial will start just as the takeover effort passes the one-year mark. It began, to PeopleSoft's surprise, on June 6, 2003. Although a verdict is expected within a month or two, few see a quick resolution to the bitter clash. If the U.S. Department of Justice has its way in court, Oracle may appeal the ruling. And if Oracle prevails, it faces another antitrust review by European regulators and an unfriendly PeopleSoft board, which has rejected four Oracle offers and readied a "poison pill" anti-takeover defense.

News source: C|Net News.com

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