The European Commission has given Oracle an unconditional green light to go ahead with its takeover of Peoplesoft, BBC News reports.
The move clears one of the last hurdles for Oracle in the $7.7 billion hostile acquisition attempt of its competitor in the enterprise software market. Earlier this month, regulators in the US had reached a similar decision.
BBC News | EU | EU go-ahead for Oracle takeover
At over 12 months, this was the longest merger review by EU antitrust regulators. If Oracle succeeds in its bid, PeopleSoft’s more than 12,400 customers would move Oracle up a notch to number 2 in the $22 billion enterprise software market, second only to SAP of Germany. Last week, Oracle extended its offer to buy PeopleSoft, having secured 5% of its shares.
The focus must now be on PeopleSoft’s board of directors to make some decisions soon re Oracle’s offer.