Oracle Declares Victory in DOJ Antitrust Fight
UPDATED: Oracle defeats the antitrust action brought by the U.S. Department of Justice in the company's hostile acquisition attempt for PeopleSoft.The long wait for a decision is over. And Oracle Corp has prevailed. For the moment at least. Judge Vaughn Walker, presiding over the U.S. District Court, Northern District of Calif., handed down his ruling in the U.S. Department of Justices case to block Oracles hostile takeover of PeopleSoft Inc., according to court records released late Thursday. The DOJ argued in its case that Oracles hostile buyout of PeopleSoft would sharply reduce competition in the ERP (enterprise resource planning) software market to the point where it could illegally control prices. Oracle argued that the tier-one ERP software market was much broader than the Justice Departments definition: comprised only of Oracle, PeopleSoft and SAP AG.
Citing issues with the Justice Departments depiction of the software market, Judge Walker denied its request for a federal injunction to block the deal.