Oracle CEO Larry Ellison says for the time being he is no longer trying to acquire financially troubled Apple Computer Inc.
In a statement Ellison says he has "decided not to pursue any transaction involving Apple Computer, or to otherwise seek control of that firm." He does not say why he is backing off plans to take over the company, which he announced about one month ago and has commented on publicly numerous times since.
The statement also says Ellison has not purchased any Apple stock, is not currently engaged in any discussions with Apple, or Apple shareholders, or potential investors concerning any transaction involving Apple, but that he "remains interested in developments at Apple and that he may well purchase stock for investment purposes or otherwise, or revisit in the future his decision regarding an acquisition or control of that firm."
Ellison said in late March that he was forming an investment group to look into the possibility of taking over Apple. He has since said he would replace Apple's top management, including stepping into the top spot himself.
Ellison also said at the time that Oracle was not going to be involved in any proposed transaction.
Apple officials could not immediately be reached for comment.