Palo Alto, July, 01: Oracle Corp. said on Monday that federal antitrust enforcers requested more information about its $6.3 billion hostile bid for PeopleSoft Inc., a move that will prolong the No. 2 software maker's takeover battle for its smaller rival. The widely anticipated second request from the U.S. Department of Justice means regulators have decided to look more closely into possible competition concerns before deciding whether to approve the deal, which would bolster Oracle's position as the second-biggest seller of business management software to Germany's SAP AG.
The move could lengthen the time it would take for Oracle to complete its takeover of PeopleSoft, which has rejected Oracle's offer and is racing to complete its own friendly acquisition of software maker J.D. Edwards & Co.
Oracle spokesman Jim Finn said in a statement that Oracle had been expecting the request from the Department of Justice.
Bureau Report