European antitrust regulators announced Monday that they're extending their review of Oracle's hostile bid for PeopleSoft into an in-depth second phase.
The decision by the European Commission, which serves as the antitrust agency for the European Union, will prolong the review by up to four months, a move that was largely expected given the size of the deal and Oracle's presence in Europe. ...
The European Commission "has become a key player in antitrust in recent years. The G.E. and Honeywell deal was a substantial case for them," said Howard Morse, a former senior official with the Federal Trade Commission's high-tech antitrust division and a partner with law firm Drinker Biddle & Reath in Washington, D.C. "In order to go ahead with a merger, you have to have clearance on both sides of the Atlantic."