Oracle's acquisition of Sun looks set to go forward, after all. The European Commission threatened to blackball the deal last November, but as InformationWeek reports, the regulatory body has now closed a three-month investigation into the deal's potential antitrust ramifications and given it a nod of approval.
Initially, the Commission feared that bringing the biggest proprietary database and the biggest open-source database—Oracle and MySQL, respectively—under one roof could adversely impact the competitive landscape and hike prices. However, EU Competition Commissioner Neelie Kroes now claims the acquisition "has the potential to revitalize important assets and create new and innovative products."
InformationWeek notes that the deal remains subject to antitrust approval in China and Russia. However, Oracle reportedly expects "unconditional approval" that will lead to the merger closing "shortly."
Oracle and Sun agreed on the deal back on April 20, 2009. If the terms haven't changed since then, Oracle will buy up Sun shares at $9.50 a pop for a total of $7.4 billion.
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