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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