"The [US] Justice Department filed a lawsuit Thursday to block Oracle's $9.4 billion hostile takeover bid for software rival PeopleSoft, dealing what could be a lethal blow to one of tech's biggest proposed mergers," reports USA Today.

"The lawsuit, filed in US District Court in San Francisco, said the takeover would hamper competition in the $20 billion market for software sold to large business customers, leading to higher prices, less innovation and fewer choices for consumers."