Redmond, Wash. (June 9, 2004) -- Microsoft Corp. made headlines this week when it revealed that was in merger talks with SAP AG.
The company confirmed that it initiated preliminary discussions with SAP AG late last year to explore the possibility of a merger. It said the talks ended a few months ago "due to the complexity of the potential transaction and subsequent integration," and noted that there are "no intentions" to resume the discussions.
The company said the departure from its policy of not commenting on discussions related to potential mergers and acquisitions was due to "certain confidential information it obtained in the pretrial discovery process that Oracle Corp. is expected to raise at the trial concerning the U.S. Justice Department’s lawsuit to block Oracle’s takeover of PeopleSoft Inc."
The Justice Department is trying to block Oracle's proposed $7.7 billion bid to takeover PeopleSoft on antitrust grounds.
-- WebCPA staff
