There are more interesting quotes from the Churchill Club event. Bloomberg writes in "Oracle’s Ellison Concerned by Delay in Sun Takeover (Update1)":
Oracle and MySQL don’t compete and the company won’t spin off MySQL, Ellison said. The plan is to save as many jobs as possible in the takeover, he said.
and
The company will retain everything from Sun and the combined business will be able to compete with International Business Machines Corp., the world’s largest provider of computer services.
The Register cites Ellison in "Ellison: Sunacle is an IBM killer":
When asked if Oracle planned to keep all of Sun existing systems, Ellison was adamant: "We are keeping everything. We're keeping tape. We're keeping storage. We're keeping x86 technology and SPARC technology - and we're going to increase the investment in it."
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