Software giant Oracle Corp has won US antitrust approval to buy computer maker Sun Microsystems,clearing a key hurdle in the companies'plan to close the $7.4 billion deal before the end of this month.
Oracle said last week that the deal cleared the US Justice Department with no restrictions.
The takeover also requires approval by the European Commission.
US officials in June said they wanted to scrutinise the deal over questions about Oracle's plans for licensing Sun's Java software, one of the world's most widely used computer languages. Since then, investors have been waiting to see how long that might delay the deal.
Analysts have said that the delay has worked to the advantage of Sun's two chief rivals in the server market, IBM and Hewlett Packard Co.
They have been courting Sun's customers during the past few months, trying to persuade them to change suppliers amid uncertainty about Oracle's plans for running the server business. Until Oracle closes the acquisition, it cannot say much about its strategy for Sun's hardware division.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment