Mergers and Acquistions News
Categories: Software
November 26th 2009, 16:48PM
The European Competition Commission has agreed to extend the deadline for its decision on the proposed $7.4 billion (£4.5 billion) merger between Oracle and Sun Microsystems.
In recent weeks, the deal - which has already been given the green light by US competition authorities - had to be put on hold after antitrust concerns were raised over Oracle's acquisition of a Sun-owned open source database company.
The deadline for an ECC decision has now been pushed back to January 27th, during which time it says Oracle will "the opportunity to further develop its arguments in relation to the commission's concerns".
Following the announcement, as many as 59 US senators have signed their named on an open letter to the European Commission, urging it to conclude its investigation and allow the merger to go ahead.
According to Reuters, sources close to the deal say Oracle plans present its case to the regulators on December 10th.
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