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EU freezes review of Oracle bid
European Union puts review on hold in order to gather more information of affected markets.
April 15, 2004: 7:27 AM EDT

BRUSSELS (Reuters) - The European Commission has again stopped the clock on its review of Oracle's $9.4 billion bid for rival PeopleSoft to seek more information on the markets affected, the EU said Thursday.

Oracle (ORCL: Research, Estimates) has defended the bid at a European Commission hearing, but regulators in the United States and the European Union (EU) have challenged the move as a threat to competition for some of the software used by large business customers.

European Commission competition spokesman Tilman Lueder said the decision to suspend the EU review was taken Wednesday. No new deadline has yet been set. The previous deadline was May 11.

"We are missing relevant information," Lueder said, adding that the details the Commission needed were on Oracle's market position in human resources and financial management software.

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He said the Commission had requested the details April 6, but had received no response by an April 12 deadline.

Lueder added that Oracle had also said the information the Commission was seeking was relevant to the probe.

The Commission has once before suspended its examination of the Oracle offer, in January, restarting it in March.

Lueder said the EU probe should be seen as separate from the U.S. Justice Department's case against the bid.

The Justice Department has argued the merger would leave only two companies from which large organizations could buy human resource and financial management software, market leader SAP of Germany and Oracle-PeopleSoft (PSFT: Research, Estimates).  Top of page




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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.