EU to approve Oracle-PeopleSoft deal?

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

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