EU Investigation Into Oracle Could Be Positive

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.

View: Reuters Article | Coverage @ Internet news

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