Larry Ellison said he expects the Justice Department to approve his pursuit of PeopleSoft in October or November while, the Financial Times claims that IBM told the DOJ that an Oracle-PeopleSoft tie-up would significantly limit competition. Maybe IBM's really being a pal and giving Oracle a graceful way out. Oracle executive VP Chuck Philips, the guy they imported from Wall Street and thrust into the middle of the PeopleSoft ruckus, said Wednesday that Oracle was unlikely to raise its $7.25 billion hostile bid for PeopleSoft ahead of regulatory clearance, but claimed "Time will be on our side." Oracle also claims to have support from key PeopleSoft accounts and institutional investors, suggesting a proxy fight could lie ahead. PeopleSoft's stock has been closing in on Oracle's $19.50-a-share offer.