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UNITED STATES: Competition

In the PeopleSoft v. Oracle case, law professor Bert Westbrook tries to convince us that their bark is worse than their bite:

"This lawsuit is far less dramatic than the headline is likely to imply to those unfamiliar with merger & acquisition practice. Hostile takeovers are generally accompanied by strategic litigation, sometimes founded on business tort (as here), and often founded on antitrust claims. Indeed litigation is part of the negotiations, a bargaining chip, and can be a way of extorting side-payments. For an account of merger practice, especially hostile takeovers generally, over the last few decades, see Bruce Wasserstein's Big Deal, which I happen to have taught in a seminar last semester. Wasserstein is a lawyer who once worked for Ralph Nader and an investment banker, a principal in Wasserstein, Parella".

RH: I still don't like this skul-dog-gery or any dog fights. Woof!

Ronald Hilton - 6/24/03