Oracle to Challenge EU Objections to Takeover

From Bloomberg News

Oracle Corp. plans to challenge European Union antitrust objections to its $9.4-billion hostile bid for PeopleSoft Inc. by arguing that regulators are ignoring new competitors in the market, people familiar with the matter said.

The European Commission singled out the market serving “large multinational companies with complex, global operations” dominated by Oracle, PeopleSoft and Germany’s SAP when it opened the probe in November.

In closed-door hearings in Brussels, Oracle will argue the commission underestimates rivals such as Baan Co. and the market for smaller businesses, said the people, who declined to be identified.