IE 11 is not supported. For an optimal experience visit our site on another browser.

Oracle seeks help in PeopleSoft bid

Oracle Corp. Chief Executive Larry Ellison has asked some board members to help fight the government if the U.S. Department of Justice accepts a DoJ staff recommendation that the software company's bid for rival PeopleSoft Inc. be opposed, the Wall Street Journal said on Thursday.
/ Source: Reuters

Oracle Corp. Chief Executive Larry Ellison has asked some board members to help fight the government if the U.S. Department of Justice accepts a DoJ staff recommendation that the software company's bid for rival PeopleSoft Inc. be opposed, the Wall Street Journal said on Thursday.

The report, which cites a person familiar with the matter, comes after the companies said late on Wednesday that DoJ staff lawyers urged the government to oppose Oracle's hostile $9.4-billion bid for PeopleSoft.

Oracle has said it believes the government will eventually back its deal but some analysts forecast that if the DoJ staff recommendation is accepted the company might walk away from the deal to avoid a costly court battle.