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BREAKING NEWS ~ Federal judge rejects US bid to block Oracle takeover of PeopleSoft

[JURIST] CNET is reporting that US District Judge Vaughn Walker in San Francisco has denied a request by the Antitrust Division of the federal Department of Justice to issue an injunction against Oracle's hostile acquisition of business software maker PeopleSoft, effectively allowing the takeover to go ahead.

UPDATE: Read the full text of Judge Walker's ruling here [PDF]. Oracle has issued this press release on the decision. It offers additional information of the case and its takeover offer here. The US DOJ Antitrust Division provides a collection of US case filings in the proceeding.

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Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible format.

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