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Tuesday, November 03, 2009
EU May Formally Object To Oracle, Sun Deal: Report
By John Letzing
MarketWatch Pulse
SAN FRANCISCO -- The European Commission is close to issuing an official statement of objections to Oracle Corp.'s planned acquisition of Sun Microsystems Inc. , according to a report published Tuesday. The Financial Times, citing an unnamed source, reported that Oracle has refused to offer any concessions to European antitrust regulators addressing their concerns about the deal. Even if a statement of objections is issued, Oracle could still have time to mount a legal challenge clearing the way for the merger, according to the report. European regulators requested additional information about the planned merger in September, and set a January deadline to decide on the matter.
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