EC Halts Oracle/PeopleSoft Inquiry

Tuesday Jan 13th 2004 by Staff

UPDATE: Overseas investigators' examination of the $7.5 billion hostile takeover is frozen pending additional information from Oracle.


Oracle (Quote, Chart) will wait longer than expected to hear whether its bid for PeopleSoft (Quote, Chart) is acceptable.

The European Commission has put its in-depth investigation into the hostile takeover attempt on hold to request additional information from the database and applications vendor, according to published reports.

EC spokeswoman Amelia Torres told "we suspended the clock because we asked the companies to supply some information for our review and of course because we have legally binding deadlines we cannot allow the clock to keep ticking."

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