EU Oracle Pronouncement
That’s a better headline than the news it’s meant to convey: The EU has given Oracle’s bid to take over PeopleSoft the o.k. to proceed. That was pretty much a foregone conclusion once the U.S. antitrust suit failed, but now in light of the revelations from PeopleSoft on Craig Conway’s remarks to industry analysts, the hostile takeover seems more viable than it did when Larry Ellison first made his bid. Although Oracle has already announced a substantially reduced per share offer, this doesn’t preclude success, particularly if PeopleSoft’s share price is adversely affected by the latest changes in the company’s fortunes, as it surely will be. Meanwhile although SAP denies talks with the 200kg gorilla, there’s plenty more drama possible over the next year or two.