PeopleSoft has formally filed notice of its plans to acquire J.D. Edwards with the Federal Trade Commission and the Department of Justice, despite itself being the target of an Oracle takeover bid.
US Federal regulators said on Monday that the pending merger of PeopleSoft and J.D. Edwards is not anticompetitive, clearing the way for the friendly US$1.7 billion deal and frustrating Oracle's desire to acquire PeopleSoft in a separate, hostile takeover bid.
Microsoft last week launched a hostile US$44.6bn takeover bid to buy Web giant Yahoo. If the deal goes ahead it will be the latest in a line of multibillion-dollar mergers and acquisitions the tech sector has witnessed in recent years.
Oracle received a second request for more information from the U.S. Department of Justice on Monday, as federal regulators formally investigate its hostile bid for PeopleSoft for possible antitrust issues.
Attorneys general from approximately 30 states this week ramped up their review of Oracle's US$6.3 billion unsolicited bid for PeopleSoft, according to sources.
The software maker files plans to take over rival J.D. Edwards with the Justice Department and the Federal Trade Commission, despite being the target of an Oracle buyout bid.
With so many forces mounting opposition to Oracle's hostile bid to buy PeopleSoft, cooler heads might suggest it's time to call it quits. But Oracle CEO Larry Ellison has never been one to follow conventional wisdom. Additional reading: Protect your software assets
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