After a month-long inquiry, the European Commission Monday said it has ruled in favor of moving to a second phase analysis of Oracle's hostile $7.5 billion takeover attempt of rival PeopleSoft
Published:
18 November 2003 y., Tuesday
After a month-long inquiry, the European Commission Monday said it has ruled in favor of moving to a second phase analysis of Oracle's hostile $7.5 billion takeover attempt of rival PeopleSoft, which could take as much as four months to complete.
The decision comes on the heels of statements made by Oracle's Executive Vice President Chuck Phillips, who last week said that the U.S. Department of Justice (DOJ) had told his Redwood Shores, Calif.-based company that it would take at least until January to conclude its inquiry into the matter.
The EC said that its initial one-month investigation has shown that the combination of two of the largest competitors in the market merits further analysis because the number of key players would be reduced from three to Oracle and SAP in the applications software markets. The Commission also said it may investigate any potential effects in the relational database market, where Oracle (Quote, Chart) is strongest.
PeopleSoft (Quote, Chart) spun the decision as a validation that the regulatory bodies are concerned about what could be possible anti-competitive actions by Oracle.
"The European Commission's decision reflects what we believe is the Commission's concern about the anticompetitive impact of Oracle's unsolicited tender offer on the industry," PeopleSoft said in a statement. "In addition to the European Commission's review, Oracle's unsolicited tender offer continues to be the subject of ongoing reviews by the U.S. Department of Justice and a task force of state attorneys general."
Oracle, too, applauded the EC's decision.
Šaltinis:
internetnews.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
A specific EU budget line for the new EU stabilisation mechanism should be created as soon as possible, to ensure its credibility, Council, Commission and Parliament negotiators agreed at a three-way meeting on Wednesday.
more »
New EU rule will help phone-users avoid astronomical bills for web-surfing and downloads abroad.
more »
The Communication approved today by the Commission builds on the principles presented on 12 May to reinforce the economic governance in the European Union.
more »
Eurostat report just published shows that the crisis has brought some lower taxes.
more »
New legislation is needed to ensure fair returns to farmers and transparent prices to consumers, by enforcing fair competition throughout the food supply chain, said Agriculture Committee MEPs on Monday.
more »
Fish imports play a crucial role in supplying the European market, yet fisheries and aquaculture are strategic sectors that do not lend themselves to a purely free-trade approach, believes the EP Fisheries Committee.
more »
I will support every proposal that strengthens cooperation among the European Union's Member States and serves Lithuania's interests," President of the Republic of Lithuania Dalia Grybauskaitė said at the meeting with EU Member States' ambassadors resident in Lithuania.
more »
The fourth World Lithuanian Economic Forum “High tech innovation & investment: local to global” will start in London on 22 June.
more »
Lithuania aims for the five Nordic countries and three Baltic States to become single community of values, which would be linked by a versatile quality of democracy, security and everyday life.
more »
MEPs decided on Wednesday to create a special committee to prepare for the EU's next long-term budgetary framework.
more »