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EU caves in on Oracle deal
'Well, it's good enough for the Americans...'

By Reuters

Published: Friday 24 September 2004

Oracle is likely to win clearance from the European Commission for its hostile takeover of rival software firm PeopleSoft, a source close to the situation says.

The Commission has yet to formally lift its suspension of the review on the deal, which it stopped months ago, but that will happen soon, the source said on Friday.

All sides had been waiting for action in the United States by a judge considering the case. The judge recently wrote a strongly worded decision saying the deal could go through, turning back an attempt by the Justice Department to block it.

The grounds for the Justice Department's objections were very close to those of the Commission.