DOJ and seven state block Oracle's bid for PeopleSoft
eWeek | at | by Mike
Shortly after the U.S. Department of Justice announced this afternoon that it will seek to block Oracle's $9.4 billion hostile takeover bid of PeopleSoft, Texas State Attorney General Greg Abbot said he and six other state attorneys general will join the Justice Department. The attorneys general from Hawaii, Maryland, Massachusetts, Minnesota, New York and North Dakota are also joining the suit.
The DOJ is filing a civil antitrust suit against Oracle today in San Francisco-a middle ground for Oracle, based in Redwood Shores, Calif., and PeopleSoft in Pleasanton, Calif.