Oracle: BEA buyout clears hurdle

Business software maker Oracle Corp. said Wednesday its $8.5 billion acquisition of rival BEA Systems Inc. received clearance from the Department of Justice and the Federal Trade Commission.

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Oracle said the Justice Department and the FTC granted early granted early termination of the Hart-Scott-Rodino review period for the deal. Early termination refers to the completion of a review by the FTC or Justice Department before the end of a 30-day period required under antitrust law.

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The transaction still needs to be approved by BEA shareholders and European regulators.

Oracle shares rose 5 cents to $19.26 in afternoon trading. Shares of BEA rose 15 cents to $18.97.