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StumbleJustice Department may block PeopleSoft deal
Wednesday, Feb. 11, 2004 | 9:16 a.m.
The Justice Department's chief antitrust enforcer, R. Hewitt Pate, must decide whether to follow the advice and file a lawsuit seeking to stop the hostile takeover. The department will make its decision no later than March 2, PeopleSoft said in a statement.
U.S. opposition may thwart Oracle Chief Executive Larry Ellison's eight-month effort to gain control of PeopleSoft. Oracle last week raised its bid from $19 a share to $26, which PeopleSoft's board rejected as insufficient.
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