DOJ expected to weigh in on Oracle bid
The US Department of Justice (DOJ) is expected to decide today whether Oracle's $6.3bn unsolicited bid for rival PeopleSoft can...
While PeopleSoft has been trying to fend off the buyout by raising antitrust issues, Oracle expressed optimism over the weekend that the DOJ would, ultimately, allow the deal to go through.
In a statement late on Sunday, Oracle spokesman Jim Finn said, "We remain very optimistic that the DOJ will conclude that this transaction is not anti-competitive and that we will complete the transaction in a timely manner."
The company added that because of the "high-profile nature of the transaction", it expected the DOJ to issue a second request for information.
A further request could delay the agency's decision, giving PeopleSoft time to complete its acquisition of fellow enterprise software provider JD Edwards, which has been put in jeopardy by the Oracle bid.
Both PeopleSoft and JD Edwards have argued that an Oracle acquisition would represent too much consolidation in the market and harm competition to the detriment of customers. Oracle announced it's bid for PeopleSoft earlier this month, just days after PeopleSoft announced it was buying JD Edwards.
Scarlet Pruitt writes for IDG News Service
