Monday, October 15, 2007

Oracle: BEA canceled meeting at last minute | CNET News.com

Looks like there won't be a lot of love left to lose when this deal closes... 

Oracle, in a letter sent by President Charles Phillips to BEA's board of directors, said that BEA canceled a meeting scheduled for Friday and declined attempts to reschedule.

Oracle, which has made a $6.7 billion offer to buy BEA, also said that it remained "committed to its proposed price of $17 per share." BEA earlier on Friday rejected Oracle's bid, saying it seriously undervalued the company.

Oracle: BEA canceled meeting at last minute | CNET News.com

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