Friday, October 26, 2007

Oracle Rejects BEA Price - WSJ.com

I'm guessing either they agree on ~$19/share at some point over the next couple days or it's game over (for now)...

Oracle Corp. has delivered a letter to the board of directors of BEA Systems Inc. rejecting BEA's proposed acquisition price of $21 per share as "an impossibly high price for Oracle or any other potential acquirer," pointing out that no other potential buyers have come forward.

[...]

"Apparently no other companies think that BEA is worth $17 per share, let alone $21 per share," Oracle President Charles Phillips wrote in the letter. "Accordingly, we repeat our proposal to purchase BEA at $17 per share, a price that we are unwilling to increase."

Oracle Rejects BEA Price - WSJ.com

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