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April 15, 2004

EC suspends Oracle/PeopleSoft acquisition probe

The European Commission's investigation into Oracle Corp's $9.4bn bid to acquire PeopleSoft Inc has come to a temporary halt while it seeks further information from Oracle.

By CBR Staff Writer

Proceedings have been suspended while the Commission seeks additional information relating to Oracle’s market position in the human resources and financial management software markets. The Commission had requested the details on April 6, but had received no response by the April 12 deadline.

The Commission was scheduled to reach a conclusion on May 11, but no new deadline has been set. It recently issued a statement of objections to Oracle. This is the second time this year that the investigation has been suspended in order to gather more information. The probe was suspended in January and restarted in February.

As was the case with the first suspension, there is speculation that part of the reason for the delay is so that the EC does not have to rule on the US-based companies before the US authorities have reached a decision about the case. The Department of Justice has issued an injunction to prevent Oracle going ahead with the acquisition. The trial to consider the DoJ’s suit is scheduled to start on June 7.

This article is based on material originally published by ComputerWire

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