TechnologyD-day looms for Oracle bid

D-day looms for Oracle bid

Oracle could get a ruling on whether its plans to acquire rival PeopleSoft meets competition regulations within weeks.

Link: Oracle ‘has tricks up its sleeve’ for bid

This week Oracle has filed its proposals with the European Commission.

The filing gives regulators 30 days to respond, who will either give the green light or conduct a more detailed review of the bid.

Oracle spokesman, Jim Finn said:’We look forward to working with the Commission and are confident that [it] will see that this transaction does not raise any serious anti-trust issues.’

Oracle remains committed to growing through acquisition, said Finn. And it may want to up its efforts after seeing another potential target, Documentum, being acquired up by storage firm EMC.

By filing the papers now, Oracle is signalling that it also expects a decision from the US Department of Justice (DoJ) shortly.

In September, Oracle’s executive vice president overseeing the deal, Chuck Phillips, said he expected the European filing to be made so the European and US rulings coincide.

But even if Oracle gains approval form both regulators, it is by no means certain of succeeding.

Since the DoJ decided to examine the proposals closely, Oracle has been stuck in a holding pattern.

It continues to extend the deadline for PeopleSoft’s shareholders to accept its offer. But in the meantime PeopleSoft has concluded its buyout of JD Edwards, and its share price has risen above Oracle’s current offer price.

Related Articles

Is predictive analytics the end of the annual audit?

Audit Is predictive analytics the end of the annual audit?

5d Martin Herron, MHA MacIntyre Hudson
Cybersecurity webinar: how protected are you and your data?

Security Cybersecurity webinar: how protected are you and your data?

1w Emma Smith, Managing Editor
Back to the Future: why financial transformation just hasn’t happened

Technology Back to the Future: why financial transformation just hasn’t happened

1w Workday | Sponsored
GDPR: Don’t forget the human touch

Security GDPR: Don’t forget the human touch

2w Neil Patrick, Director of GRC and Centre of Excellence EMEA for SAP
5 key tech innovations helping accountants transform their businesses

Accounting Software 5 key tech innovations helping accountants transform their businesses

3w Heather Darnell, Founder of Ask the BOSS
HMRC scaling back digital projects to ‘release project capability to EU Exit work’

Brexit HMRC scaling back digital projects to ‘release project capability to EU Exit work’

4w Alia Shoaib, Reporter
What is the role of governance, compliance, and control in financial transformation?

Corporate Governance What is the role of governance, compliance, and control in financial transformation?

1m Workday | Sponsored
Grant Thornton joins with Immersive Labs to increase cyber talent

Career Grant Thornton joins with Immersive Labs to increase cyber talent

1m Lucy Skoulding, Reporter