EU Likely To Approve Oracle&#39;s Hostile Bid for PeopleSoft
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EU approval of the Oracle-PeopleSoft deal would mirror events that have occurred in the United States, where the Justice Department had argued in favor of blocking of the bid but a court in San Francisco overturned the recommendation.
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The European Commission is expected to approve Oracle's $7.7 billion acquisition of PeopleSoft on Tuesday, with no conditions attached, a person close to the case said.
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The European Commission is set to give US software giant Oracle the go-ahead to take over arch-rival PeopleSoft in a $7.7 billion (4.
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As expected, the European Commission announced Tuesday it has ruled that Oracle Corp. can proceed with its hostile acquisition attempt of PeopleSoft Inc.
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Oracle said clearance for the bid from the European Union, granted last week, prompted the move. Oracle hopes the higher price will persuade PeopleSoft to drop its remaining obstacles to the deal.
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Software maker Oracle Corp.  ORCL.O on Wednesday said it will let PeopleSoft Inc. PSFT.O  shareholders decide for themselves whether to accept Oracle's  $8.8 billion hostile takeover bid after learning that  PeopleSoft's board of directors will reject it.
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Oracle is to raise its hostile bid for rival business software maker PeopleSoft to $8.8 billion, calling this its &#39;best and final&#39; offer.
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The European Commission said Tuesday that it has approved Oracle Corp.&#39;s $7.7 billion bid for PeopleSoft Inc., removing the last antitrust obstacle to the hostile takeover attempt.
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Software maker Oracle Corp.  on Wednesday said it will let PeopleSoft Inc.  shareholders decide for themselves whether to accept Oracle's &#36;8.8 billion hostile takeover bid after learning that PeopleSoft's board of directors will reject it.
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European Union regulators will decide Tuesday whether Oracle Corp.'s hostile &#36;7.7 billion bid for rival business software concern PeopleSoft Inc. can proceed, the EU's antitrust chief said Friday.
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EUROPEAN Union regulators will decide on Tuesday whether Oracle&#39;s hostile $US7.7 billion ($10.4 billion) bid for rival PeopleSoft can proceed, the EU&#39;s antitrust chief said.
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The European Commission is still in  talks with Oracle Corp ORCL.O over its plan to take over  rival software firm PeopleSoft Inc. PSFT.O, but aims to take  a decision before the end of October, a Commission spokeswoman  said on Friday.
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The European Commission on Tuesday cleared Oracle's hostile &#36;7.7 billion bid for rival business-software maker PeopleSoft, lowering the last antitrust hurdle to the contested deal. "There is an absence of sufficient evidence of competitive harm," regulators said in a statement.
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PeopleSoft reiterated on Tuesday its opposition to a $7.7 billion takeover offer from Oracle after the European Union approved the bid, removing the last regulatory hurdle to a deal.
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European Commission is set to announce whether it will block the database giant's hostile takeover bid for PeopleSoft.
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The European Commission is studying the U.S. court decision favoring Oracle's PeopleSoft buyout and deciding whether to pursue its own objections.
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Oracle Corp is likely to win clearance from the European Commission for its hostile &#36;7.7 billion takeover of rival software firm PeopleSoft Inc., a source close to the situation said on Friday.