Tuesday, October 16, 2007

SAP Says It Won't Make A Counterbid For BEA Systems -- SAP -- InformationWeek

One down...

SAP (NYSE: SAP) said it will not make a counterbid to acquire BEA Systems.

The United Kingdom's Financial Times reported Monday that SAP CEO Henning Kagermann said in an interview SAP would not make a counteroffer for BEA following Oracle's bid last week to buy the company for $6.7 billion. An SAP spokesman told InformationWeek later Monday: "Yes, this statement is true and confirmed. SAP is not planning a counterbid for BEA."

SAP Says It Won't Make A Counterbid For BEA Systems -- SAP -- InformationWeek

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