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.
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.
Oracle expects to receive word by Monday in the U.S. whether federal antitrust regulators will let its hostile bid for PeopleSoft jump over regulatory hurdles.
Software maker PeopleSoft on Thursday formally rejected Oracle's $5.1 billion hostile takeover bid, saying the deal raises significant antitrust issues and "dramatically undervalues" the company.
European antitrust regulators announced Monday that they're extending their review of Oracle's hostile bid for PeopleSoft into an in-depth second phase.
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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