M & A Law Prof Blog

Editor: Brian JM Quinn
Boston College Law School

Saturday, October 31, 2009

Oracle withdraws Russian Antitrust Filing re Sun

That's according to eWeek and the English translation of a notice from the Russian Antritrust authority.  I have no idea why Oracle would pull its pre-merger approval application.  The "reasonable best efforts" language in the merger agreement would suggest that they don't pull it.  I'm open to ideas.


Update:  Smarter people than me have pointed out that the reason for Oracle pulling its Russian filing may simply be a function of dealing with the Russian bureaucracy.  Here's an explanation from Dow Jones that makes sense:

The Russian antitrust hitch is largely due to "procedural" issues, people familiar with the matter said. In Russia, once the antitrust body has been notified of a deal the companies involved have a maximum of 90 working days to get the deal done. The system is rigid, and Oracle was told it either had to withdraw its notification or face a blocking decision from the Russians, one person said.

The Russian authorities basically want to see how Europe is going to deal with the issue first, the person added.


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