DOJ Wants More Info from Oracle
By George Anderson
CNN/Money reported today that regulators at the Justice Department (DOJ) are seeking more information about Oracle’s hostile takeover bid for PeopleSoft.
DOJ’s request for additional information indicates regulators may be concerned about the antitrust implications of the proposed deal. The Connecticut Attorney General’s Office has already filed an antitrust suit seeking to block an Oracle/PeopleSoft merger.
Jim Finn, an Oracle spokesman, told The Wall Street Journal, “Considering the high-profile nature of this transaction and the fact that the Department of Justice just received the case less than two weeks ago, we fully expect to receive a second request.”
Mr. Finn added, “We remain very optimistic that DOJ will conclude that this transaction isn’t anti-competitive and that we will complete the transaction in a timely manner.”
Moderator’s Comment: What are the implications of an
Oracle/PeopleSoft merger should it happen? Should regulators allow Oracle’s
hostile takeover bid?
We don’t know if Bill Gates is the type of person to hold
a grudge, but if he were, he’s probably hoping for a “what goes around comes
around” experience for Oracle’s Larry Ellison.
Anderson – Moderator]