Oracle said it vows to “vigorously challenge” the Department of Justice’s decision to block the software maker’s attempt to purchase PeopleSoft for $9.4 billion.
Oracle’s decision, widely expected by those familiar with Chief Executive Officer Larry Ellison, came just a few hours after DOJ Assistant Attorney General R. Hewitt Pate announced his decision to quash the bid and file a civil lawsuit in the U.S. District Court of San Francisco.
The Redwood Shores, CA. company said in a statement that its board of directors met and decided to take on the DOJ because it disagrees with the DOJ’s claim that currently only three vendors meet large businesses’ needs for enterprise applications.
Oracle said the DOJ’s view “does not fit with the reality of the highly competitive, dynamic and rapidly changing market.”
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