The European Commission (EC) Thursday said it has postponed its
evaluation of Oracle (Quote, Chart) and its $9.4 billion proposal to
acquire PeopleSoft. (Quote, Chart)
As previously reported, the EC met behind closed doors with
representatives of Redwood Shores, Calif.-based Oracle earlier this month to
discuss its "statement of objections" to the unsolicited bid.
Commission spokesman Tilman Lueder told the Associated Press and Reuters
that the decision to suspend the EU review was made Wednesday. No new
deadline has been set to replace the previous one of May 11. This is the
second time the EC has requested additional information after "stopping the
clock" and then restarting.
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