EU Sets Ruling Deadline For Oracle-PeopleSoft

takeover bid

The European Commission originally opposed the proposed deal but now is expected to clear it after gathering additional information during the summer from Oracle about the software market.

The U.S. Department of Justice last week dropped its antitrust challenge to the combination of the two software makers, after losing a court bid to stop the deal. A U.S. district judge ruled Washington was wrong to argue that Oracle's hostile takeover would damage competition in a software market for "large complex enterprises."

EU regulators had identified an identical slice of the software market.

Redwood Shores, Calif.-based Oracle launched its hostile bid 16 months ago for Pleasanton, Calif.-based PeopleSoft, which has rejected the $21 a share offer.

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Oracle is currently trying to convince a Delaware judge to remove two antitakeover defenses while PeopleSoft is fighting to preserve them.

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