Oracle's Takeover Bid Still Faces Hurdles

September 10, 2004

[From internetnews.com]

A federal judge has cleared the way for Oracle's $7.7 billion hostile takeover bid for PeopleSoft, but the plan still has many hurdles ahead.

U.S. District Court Judge Vaughn R. Walker issued his 164-page ruling late Thursday saying the antitrust suit filed by the U.S. Department of Justice did not convince him that the takeover would harm competition in the market for certain enterprise software applications. The DoJ said it was disappointed with the decision but it now has 60 days in which to appeal the judge's ruling.

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