Report: Oracle to resist EU objections on Sun deal
According to a report in the Financial Times Oracle is not offering any concessions to the European Commission's objections to its proposed acquisition of Sun Microsystems. Sources close to the process say the regulators are near to issuing an official statement of objections, which is the first step in blocking the $7.4 billion acquisition.
According to some observers, Oracle has nothing to lose in waiting to see the Commissioner's exact objections; it would still have time to offer concessions or prepare for a, most probably, prolonged legal fight with the regulator. The report does note that although the European Commission has blocked US mergers in the past, such as General Electrics proposal to purchase Honeywell in 2001, since then the regulators on both sides of the Atlantic have tried to co-ordinate their work. There have only been two mergers blocked by the Commission since 2004 and both of them concerned European companies. In Oracle's case, the deal has already been approved by the US regulators.