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PeopleSoft: Justice will block Oracle deal
By Joanne Cummings

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Citing antitrust issues, DOJ staffers recommend filing suit to block Oracle’s pending takeover of PeopleSoft.

PeopleSoft announced that it was informed by the U.S. Department of Justice’s Antitrust Division that DOJ staffers have recommended the department file suit to block Oracle’s proposed acquisition of PeopleSoft.

The recommendation has been sent to the Assistant Attorney General’s office, and the DOJ said it would make a final decision by March 2.

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Just last week, PeopleSoft’s board rejected a significantly sweetened offer by Oracle that would have amounted to a $9.4 billion purchase price. Oracle is hoping its offer will entice stockholders to vote out the current board in favor of members more accepting of the proposed merger. PeopleSoft’s stockholder’s meeting is scheduled for March 25.

For more information, visit PeopleSoft here.




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