Antitrust lawyers of the U.S. Department of Justice (DOJ) recommended
against Oracle's (Quote, Chart) $9.4 billion takeover attempt of rival
PeopleSoft, (Quote, Chart) in what could be a major setback for the
enterprise software company.
In a statement, PeopleSoft said the DOJ had issued a preliminary finding and
that the DOJ expects to come to a conclusion about the acquisition by March
The staff at the DOJ submitted their recommendation to block the deal to
assistant attorney general Hewitt Pate for final approval. Pate is empowered
to make the DOJ's final decision regarding PeopleSoft's fate and those in
his position have a history of taking the recommendations of the DOJ staff.
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