Justice Dept. closer to blocking Oracle bid

The U.S. Justice Department is moving closer to a decision to block Oracle Corp’s $7.3 billion hostile bid for PeopleSoft Inc, the Wall Street Journal said on Friday.

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Citing lawyers close to the case, the paper said that government lawyers, who deposed Oracle Chief Executive Larry Ellison this week, are gathering evidence to be used in a possible suit in a San Francisco federal court to challenge the deal on antitrust grounds.

A final decision will not be made before the end of February, but the Justice Department is leaning against recommending approval of the deal, the paper quoted the lawyers as saying.

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If Justice Department staff recommend the government seek to block the deal, Oracle’s lawyers will have a final chance to dispute their arguments, it said.

Oracle officials could not immediately be reached for comment.