German software maker SAP AG is set to gain unconditional European Union regulatory approval this week for its $5.8 bn takeover of Sybase, a source close to the case said on Tuesday. "Unconditional phase 1 clearance is expected either today or on Thursday. There is no problem with the case whatsoever," said the source.
The European Commission has set a July 22 deadline for its decision. A phase 1 review is a first-stage investigation that lasts 25 working days and can be extended to 35 working days if companies have offered commitments.
SAP, the world's biggest maker of business software, unveiled the deal to buy Sybase, the world's No. 4 provider of database software, in May. This is SAP's second largest acquisition after its purchase of Business Objects in 2008.
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