States' Case Vs. Oracle Draws Cheers, Jeers

April 9, 2004

[From internetnews.com]

Apparently there are no fence-sitters when it comes to Oracle's $9.4 billion proposal to acquire PeopleSoft. (Quote, Chart)

The Attorneys General of Connecticut and Ohio filed a motion in federal District Court in San Francisco late Wednesday to intervene in the antitrust suit brought forward by the U.S. Justice Department.

The government is seeking to block the unsolicited bid that it claims reduces the number of firms offering a full array of enterprise resource planning (ERP) tools down to two. Currently, German-owned SAP (Quote, Chart) leads the pack with Oracle and PeopleSoft trailing.

Connecticut and Ohio now join eight other states including Michigan, which also filed paperwork Wednesday to stand underneath the umbrella of the DoJ's case. Connecticut had filed its own suit in state court when the original deal was announced in June 2003. This is the first time Ohio has entered into the argument.

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