Judge Defers Decision in Oracle Takeover Bid
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The dispute between Oracle and PeopleSoft will return to the courtroom next month, when the presiding judge will hear more testimony.
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Oracle yesterday extended its controversial bid for enterprise resource software provider PeopleSoft, while both companies await the final judge&#39;s ruling in the Department of Justice (DoJ) anti-competition case.
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NEW YORK, October 8  - Oracle Corporation (ORCL.NAS) is considering altering its takeover bid for the rival business software company, PeopleSoft, with discussions leaning towards a potential decline in the current offer of $7.
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A judge dismissed a lawsuit against two officers of the Oracle Corporation that accused them of insider trading before the company announced an earnings shortfall in 2001.
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A ruling that allows Oracle to proceed with its bid for PeopleSoft appears to have done nothing to soften PeopleSoft's resolve to remain independent.
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A federal judge has ruled that Oracle can proceed with its bid to acquire PeopleSoft, saying that the merger would not stifle competition in the market.
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A US federal judge on Thursday gave Oracle Corp. a green light to proceed with its hostile bid to take over rival business software maker
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It looks as though the European Commission is getting ready to permit  Oracle's (Nasdaq: ORCL) US&#36;7.7 billion hostile takeover bid of PeopleSoft (Nasdaq: PSFT). The ruling, which has been  widely anticipated after a similar consideration in the United States also  paved the way for Oracle's takeover, is expected to be handed down before the  end of October.
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The judge who must decide whether PeopleSoft Inc.'s corporate takeover defenses will stand up against a hostile takeover attempt by Oracle Corp. said Friday the latest revision of a key defense was "a lot closer" to meeting concerns raised about it in court.
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Thursday&#39;s pro-Oracle Corp. decision on the US Department of Justice&#39;s attempt to block Oracle&#39;s proposed takeover of PeopleSoft Inc.
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Judge may order more testimony over PeopleSoft&#39;s use of poison pills to thwart an Oracle takeover. WILMINGTON, Del.,  - The Delaware judge presiding over Oracle Corp.
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A Delaware court has told the two sides in the trial over Oracle Corp.&#39;s bid to overturn PeopleSoft Inc.&#39;s antitakeover measure that they must return for more testimony next month, delaying a crucial ruling in the Redwood City giant&#39;s plan to take over
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The judge presiding over Oracle&#39;s lawsuit to remove PeopleSoft&#39;s defense against a hostile takeover said on Wednesday that he would not rule until he had received more information on the case.
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The judge presiding over the U.S. Department of Justice's (DOJ) attempt to block Oracle Corp.'s proposed takeover of rival software maker PeopleSoft Inc. ruled in Oracle's favor on Thursday, removing one obstacle preventing the hostile acquisition.  The decision means Oracle's fifteen-month campaign to buy PeopleSoft through a $7.7 billion cash tender offer to PeopleSoft's shareholders will continue.  "Because plaintiffs have not shown by a preponderance of the evidence that the merger of Oracle and PeopleSoft is likely substantially to lessen competition in a relevant product and geographic market ... the court directs the entry of judgment against plaintiffs and in favor of defendant Oracle," U.S. District Court for the Northern District of California Judge Vaughn Walker wrote in his ruling.  The decision is a setback for PeopleSoft and a significant blow to the DOJ, but it's far from a green light for Oracle. From the start, the biggest obstacle to the deal has been PeopleSoft's "poison pill," an anti-takeover provision in its bylaws that allows it to manipulate its shares to make a hostile acquisition prohibitively expensive. Oracle is challenging the legality of PeopleSoft's poison pill; trial on that case is scheduled to commence Sept. 27 in Delaware's Court of Chancery.  Oracle in a first reaction to the ruling said that it removes a significant roadblock to the acquisition. "This decision puts the onus squarely on the board of PeopleSoft to meet with us and to redeem their poison pill so that the shareholders can accept our offer," Oracle Chairman Jeffrey Henley said in a statement.  However, Oracle also has to convince PeopleSoft's shareholders to take advantage of its buyout offer. The company is offering $21 per share. So far, only 21.7 million of PeopleSoft's shares, 6 percent of the company's outstanding total, had been tendered into Oracle's offer as of Aug 27. That percentage may rise with the DOJ's defeat, as shareholders anticipate a better chance Oracle's bid will be successful.  PeopleSoft's shares (PSFT) ended trading Thursday on the Nasdaq exchange at $17.95. The shares bounced up 15.26 percent in after-hours trading to $20.69.  Oracle and PeopleSoft also remain locked in another legal battle in California's Alameda County Superior Court, where PeopleSoft has charged Oracle with unfair business practices. Oracle countered with a complaint accusing PeopleSoft of illegally refusing to seriously evaluate Oracle's bid, and of improperly creating a "customer assurance program" that could make an Oracle acquisition of PeopleSoft very costly if Oracle. The case is schedule for trial in November.
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SOFTWARE giant Oracle&#39;s stalled $7.7bn (Â£4.2bn) bid to take over competitor PeopleSoft has received a huge boost after a US judge threw out an anti-trust lawsuit filed by the Department of Justice to block the acquisition.
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AMSTERDAM, Netherlands  - European Union regulators will decide Tuesday whether Oracle Corp.'s hostile bid for PeopleSoft Inc. can go ahead, ruling on the proposed takeover two-weeks ahead of schedule, the EU's antitrust chief said.
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BRUSSELS, Belgium -- European Union regulators suggested Monday they are not bound by a US decision to allow Oracle Corp. to pursue its $7.