EU Clears Oracle for PeopleSoft Takeover

Tuesday Oct 26th 2004 by Staff

Oracle sees another obstacle disappear in its $7.7 billion hostile takeover bid.


European regulators will not obstruct Oracle's hostile takeover bid for PeopleSoft, regulators said Tuesday.

After a lengthy probe, the European Commission (EC) said there was not enough evidence to suggest that competition would suffer under the current $7.7 billion offer to merge the two companies. The commission said there were enough large companies with multinational activities out there besides Oracle, PeopleSoft and market leader SAP AG (Quote, Chart), the three most visible players.

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