Watchdog asks DOJ to block Oracle hostile takeover
C|Net | at | by Mike
Oracle's attempt to acquire PeopleSoft is under attack by a conservative legal action group that is urging federal antitrust regulators to block the deal. The National Legal and Policy Center (NLPC), a nonprofit based in Washington, D.C., has asked the U.S. Department of Justice, which is now reviewing Oracle's hostile $6.3 billion bid for the rival software company, to stop the deal, the group said Tuesday.
"This attempted hostile acquisition would significantly reduce competition in large enterprise applications, inflict severe financial damage on PeopleSoft customers who have heavily invested in the company's software applications, and inappropriately pressure the 40 percent of PeopleSoft customers who use database products from IBM and Microsoft to switch to Oracle," the group's letter to the Justice Department stated.