PeopleSoft get clearance for takeover of J D Edwards

US federal anti-trust regulators have cleared the way for PeopleSoft to complete its $1.75bn (€1.54bn) acquisition of J D Edwards.

PeopleSoft said that this decision would help it in its attempts to evade a hostile takeover bid by Oracle. This bid is presently being held up by anti-trust regulators who have asked for more information from Oracle about its proposed takeover of PeopleSoft and J D Edwards.

Oracle says that it is still keen to go ahead with its €6.3bn hostile takeover of PeopleSoft and extended from July 18 to August 15 its deadline for PeopleSoft shareholders to tender their shares.