Yep, the EU approved the deal European Commission Approves Oracle-Sun Deal | John Paczkowski ...
I'll take number 2. I don't think open source is ending any time soon, neither is commercial software for that matter. There are a few other very popular open source softwares out there, Apache comes to mind. I am also pretty sure that the success of MySQL can be replicated in another product, either existing or not.
Did the EU finally approve this buyout?