Saturday, October 13, 2007

Oracle Bids $6.7 Billion for Rival BEA, Whose Officers Say It’s Worth More - New York Times

The dance continues... 

“BEA is worth substantially more to Oracle, to others and, importantly, to our shareholders,” William M. Klein, BEA’s vice president for business planning and development, said in a letter Friday to Oracle’s president, Charles E. Phillips Jr. Mr. Klein said the deal was complicated by BEA’s internal investigation into stock option grants.

Mr. Icahn said in a statement that he agreed that, at $17 a share, the price was too low but that he was “pleased” that Oracle had made an offer.

Oracle Bids $6.7 Billion for Rival BEA, Whose Officers Say It’s Worth More - New York Times

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