:: Friday, June 20, 2003 ::
Antitrust News: Connecticut Files Antitrust Lawsuit To Block Oracle Takeover Of PeopleSoft
Posted by Nicholas Provenzo at 3:15 PM
It was Massachusetts vs. Microsoft and now it's Connecticut vs. Oracle.
Well, there you have it. Antitrust as a form of price control.
The Nutmeg state filed an antitrust lawsuit to block Oracle's hostile takeover of PeopleSoft, according to a statement issued Wednesday.
The lawsuit, to be filed Wednesday in U.S. District Court in Hartford, charges that the proposed $6.3 billion acquisition would violate state and federal antitrust statutes, according to state officials.
A combined Oracle/PeopleSoft would boost prices for businesses and consumers by "significantly reducing competition in the markets PeopleSoft serves and forcing current PeopleSoft customers to replace their software with other companies' products," according to the statement issued by governor John Rowland, Attorney General Richard Blumenthal and Comptroller Nancy Wyman.
Connecticut is a PeopleSoft customer, according to the PeopleSoft's Web site.
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