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Michigan joins suit against Oracle

An eighth state has come aboard the Dept. of Justice's effort to block on antitrust grounds Oracle's intended acquisition of rival PeopleSoft.

Michigan's attorney general announced Wednesday that the state would join the Justice Department's lawsuit to block Oracle's $9.4 billion hostile takeover bid for PeopleSoft. Michigan, a latecomer, will join the Justice Department and seven states in their effort to block the bid. Antitrust regulators have cited concerns about reduced competition and innovation with the merger. In February, the states and Justice filed a joint lawsuit to block the bid. The trial is expected to begin June 7.