Oracle, PeopleSoft CEOs File Depositions

May 24, 2004

[From internetnews.com]

SAN FRANCISCO -- The chief executive officers of Oracle (Quote, Chart) and PeopleSoft (Quote, Chart) will answer questions about the controversial hostile takeover bid before the weekend is through, officials with both companies said during court proceedings here Friday.

The U.S. Department of Justice and ten states want to block Oracle's unsolicited plans to acquire PeopleSoft, arguing that the merger between two major enterprise software providers would be anti-competitive and limit customers' choices. Oracle is fighting to thwart the DoJ's stance. The trial begins on June 7 and is expected to last six weeks.

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