Oracle attorneys made a forceful effort to blast holes in the government's case to block its US$7.7 billion bid to buy PeopleSoft in the opening arguments of a federal antitrust trial here on Monday in the US.
U.S. Department of Justice officials announced on Thursday that they will challenge Oracle's hostile US$9.4 billion takeover bid for PeopleSoft, dealing a major blow to the controversial deal.
Oracle and federal antitrust regulators are grappling with a key definition that would influence the direction of the government's review of Oracle's bid to merge with rival PeopleSoft.
SAP, a top Oracle rival, has joined a chorus of critics questioning the U.S. Justice Department's lawsuit to block Oracle's acquisition of PeopleSoft and the agency's decision to discount Microsoft as a major competitive force in the business applications market.
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.
The US Justice Department charges have been rejected, making way for Oracle's US$7.7 billion PeopleSoft merger. What does the future hold? Additional reading: New twist in software licensing
Trial pitting Oracle against PeopleSoft turns into mating ritual of sorts, as sides quibble over money.
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.
As early as spring last year, Oracle considered Lawson Software and J.D. Edwards as acquisition targets, according to a videotaped deposition of Oracle's chief financial officer.
When all is said and done, CNET News.com's Charles Cooper asks whether the hostile bid to acquire PeopleSoft is smart or just silly.
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