U.S. government seeks more data on Oracle-Sun deal
U.S. antitrust regulators have asked for more information on Oracle Corp's plan to buy Sun Microsystems Inc and need a little more time to review the $7 billion deal, an attorney for Oracle said.
This means that Oracle has failed to get approval for the deal as quickly as some had hoped, as Friday had marked the expiration of an initial 30-day review period in which antitrust officials could have approved the deal quickly by letting the deadline pass without asking any questions.
The Department of Justice asked both companies for information related to the licensing of Sun's Java software language, said Daniel Wall, a partner with Latham & Watkins and an attorney for Oracle.
The request was related to a narrow, technical matter, according to Wall, who said he expected the DOJ to soon approve the deal and allow Oracle to complete the acquisition during its current fiscal quarter, which ends on August 31.
"We've had a very good dialogue with the Department of Justice and we were almost able to resolve everything before the Second Request deadline. All that's left is one narrow issue about the way rights to Java are licensed that is never going to get in the way of the deal," Wall said in an interview. "I fully expect that the investigation will end soon and not delay the closing of the deal this summer."
Full Story: http://www.reuters.com/article/americasDealsNews/idUSTRE55P6N520090626