Friday, June 20, 2003

Antitrust News: Oracle Bid Rejected

This is a sentence you rarely read:
Business software maker PeopleSoft Inc.'s Friday said its board unanimously rejected a sweetened hostile takeover bid by Oracle Corp. on the grounds that the combination would violate antitrust laws.
Normally it's the Federal Trade Commission's job to decide if a merger violates the antitrust laws. After all, they're the only ones who know for sure. Most antitrust analysts, in fact, think an Oracle-PeopleSoft merger would withstand antitrust scrutiny.

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