Decisions by a United States court and European Union officials to effectively clear regulatory hurdles from the path of Oracle's proposed US$7.7 billion acquisition of PeopleSoft are poised to persuade Australian competition regulators to green-light the transaction.
European antitrust regulators announced Monday that they're extending their review of Oracle's hostile bid for PeopleSoft into an in-depth second phase.
Antitrust division lawyers at the U.S. Justice Department are recommending that the department file suit to block Oracle's acquisition of PeopleSoft, indicating that Oracle may face a serious setback in its embattled bid for its rival.
PeopleSoft's board of directors has rejected Oracle's revised hostile bid, saying it believes the company is worth more than US$26 a share.
Oracle may be celebrating its long-awaited union with PeopleSoft, but customers, employees and competitors have reason to worry.
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