EC Halts Probe of Oracle-PeopleSoft Bid

April 15, 2004

[From internetnews.com]

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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