PeopleSoft's board of directors has rejected Oracle's lowered bid to take over the company, calling the price "inadequate."
European antitrust regulators ruled Tuesday that Oracle can proceed with its hostile takeover bid for PeopleSoft, clearing the last regulatory hurdle in the protracted and sometimes tumultuous battle.
Oracle chalked up a key victory Friday in its battle to acquire PeopleSoft, with investors agreeing to sell the suitor 60 percent of PeopleSoft's outstanding shares.
An economist testified Friday that an Oracle takeover of PeopleSoft would allow the database powerhouse and SAP to unfairly dominate the market for business software.
European antitrust regulators on Friday began combing through a federal court ruling in the controversial antitrust case against Oracle, comparing notes as they decide whether to issue their own challenge to the deal.
The government's decision to try to block Oracle's bid for PeopleSoft dismissed a potentially dangerous competitor, analysts say: Microsoft.
Oracle's chief executive says it's alright for companies to use Oracle's business system in conjunction with those from rivals Siebel Systems and SAP, and Oracle will even help them to do it.
Since taking the reins of Germany's SAP last year, Henning Kagermann has hardly had a dull moment. In this interview, he talks about Microsoft's bid to acquire the company, and where the enterprise software market is headed.
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