(anti-trust) Oracle Can Pursue Hostile Bid for PeopleSoft, Judge Decides

[papau]

http://www.latimes.com/business/la-fi-oracle10sep10.story
Oracle Can Pursue Hostile Bid for PeopleSoft, Judge Decides
Regulators' effort to block a deal is rejected. The acquisition target offers no sign of bowing.
By Joseph Menn
Times Staff Writer

September 10, 2004

SAN FRANCISCO — In a rare defeat for U.S. antitrust enforcers, a federal judge cleared the way Thursday for software giant Oracle Corp. to press ahead with its hostile bid for rival PeopleSoft Inc.

Oracle still faces major obstacles to completing the $7.7-billion deal, including the entrenched opposition of PeopleSoft directors and Chief Executive Craig Conway, a onetime protege of Oracle CEO Larry Ellison.

But Thursday's court victory, once seen as longshot, boosted Oracle's chances.

"This is the most significant hurdle," said David Yockelson, an analyst at Meta Group.<snip>