FTC seconds the approval
Last modified on Tuesday, 04 March 2008 07:56
Oracle Corporation’s acquisition of BEA Systems, Inc. cleared another hurdle toward approval after the U.S. Department of Justice (DOJ) and the U.S. Federal Trade Commission (FTC) both approved the deal.
Both Oracle and BEA agreed on a purchase price of nearly $8.5 billion in mid-January, after it had appeared earlier that the deal might become very contentious. The European Commission must next approve the deal.
BEA’s shareholders must also vote their approval of the acquisition. They will do this at a special shareholders’ meeting on April 1st, and it appears at this point that the shareholders will support the deal.