The Department of Justice, under the Hart-Scott-Rodino Antitrust Improvements Act, had faced a deadline of midnight Monday to decide whether to allow the US$5.8 billion merger of the two enterprise software companies to move forward, or extend the review process to gather additional information. But whether the Justice Department will move to try to block the merger as in the PeopleSoft case has yet to be seen.
Oracle's hostile takeover battle for PeopleSoft in 2003 was challenged by the Department of Justice, which cited antitrust violations. However, a U.S. District Court ultimately ruled in Oracle's favor and allowed the protracted deal to close in 2005.
With the Justice Department's "second request" for information, it will wait for Oracle to submit the requested information. Once the regulatory agency feels it has the needed information, it will have 15 days to decide whether to allow the deal to proceed or challenge it.
