Oracle's Sun Deal Approved, "Almost"
Oracle (ORCL) was “almost” able to resolve the Justice Department’s concerns over its proposed acquisition of Sun Microsystems (JAVA).
Almost, but not quite.
The 30-day review period for the $7.4 billion deal was set to expire midnight Friday. But instead of approving it, the DOJ extended its examination, issuing a second request for more information. Seems the government has some questions about Java and the way in which it is licensed.
In a statement released late Friday, Daniel Wall, a lawyer at Latham & Watkin, the firm representing Oracle, said that “we were almost able to resolve everything before the Second Request deadline. All that’s left is one narrow issue about the way rights to Java are licensed that is never going to get in the way of the deal.”
Never going to get in the way of the deal?
Well, it already has, hasn’t it? And while Oracle insists the extension of the investigation won’t delay the closing of the deal this summer, this additional 11th-hour scrutiny of Java isn’t exactly encouraging. After all, Oracle CEO Larry Ellison has said that Java is “the single most important software asset we have ever acquired.”