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Oracle Passes Last Test for Sun Takeover
Oracle Corp. cleared its last major hurdle to take over Sun Microsystems Inc., getting unconditional approval in Europe to close the deal.
The merger moves Oracle, the second-largest software maker, into the hardware business. The companies still need approval in China and Russia, which Oracle says it expects to get. Oracle says the transaction should close soon and scheduled an all-day event January 27 at its California headquarters to discuss strategy of the merged company.
The deal got the blessing of antitrust officials in the U.S. in August, but European Union regulators were concerned about Oracle's acquisition of a Swedish database program owned by Sun.
"I am now satisfied that competition and innovation will be preserved on all the markets concerned. Oracle's acquisition of Sun has the potential to revitalize important assets and create new and innovative products," EU Competition Commissioner Neelie Kroes says in a statement.
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