EC Digs Deeper into Oracle-PeopleSoft Fight
November 17, 2003[From internetnews.com]
After much furor, the European Commission (EC) Monday said it has ruled in favor of moving to a second phase analysis of Oracle's hostile $7.5 billion takeover attempt of rival PeopleSoft, which could take as much as four months to complete.
The decision comes on the heels of statements made by Oracle's Executive Vice President Chuck Phillips, who last week said that the U.S. Department of Justice (DOJ) had told his Redwood Shores, Calif.-based company that it would take at least until January to conclude its inquiry into the matter.
"During the investigation, the Commission will, in particular, investigate the impact of the transaction on the markets for business applications software used by large multinational companies to co-ordinate and plan their financial and human resources and their relationship with customers, among other things," the commission said in a press statement.
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