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Oracle: BEA buyout clears hurdle

Business software maker Oracle Corp. said Wednesday its $8.5 billion acquisition of rival BEA Systems Inc. received clearance from the Department of Justice and the Federal Trade Commission.
/ Source: The Associated Press

Business software maker Oracle Corp. said Wednesday its $8.5 billion acquisition of rival BEA Systems Inc. received clearance from the Department of Justice and the Federal Trade Commission.

Oracle said the Justice Department and the FTC granted early granted early termination of the Hart-Scott-Rodino review period for the deal. Early termination refers to the completion of a review by the FTC or Justice Department before the end of a 30-day period required under antitrust law.

The transaction still needs to be approved by BEA shareholders and European regulators.

Oracle shares rose 5 cents to $19.26 in afternoon trading. Shares of BEA rose 15 cents to $18.97.