$4.3bn hostile takeover back on the cards after court ruling

Oracle
is likely to win clearance from the European Commission for its hostile
takeover of rival software firm PeopleSoft, reports Reuters news agency.

The
proposed $7.7bn (£4.3bn) deal would create a worldwide software gaint.

The
commission has yet to formally lift its suspension of the review on the deal,
which it stopped months ago, but that will happen in the next few weeks, a
source close to the situation told Reuters.

The
US
Justice Department had argued in favour of blocking the bid, but that stance
has been overturned by a district judge. However, that ruling could still be
subject to appeal.

By Mike Berry

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