Wednesday, January 16, 2008

Oracle Strikes Deal to Buy BEA Systems for $8.5 Billion - WSJ.com

This is turning out to be a pretty interesting day so far :)...  

Oracle Corp. said it will acquire BEA Systems in a $8.5 billion deal three months after BEA slapped away an Oracle takeover offer as too low.

Oracle would pay $19.38 for each BEA share, a 24% premium to Tuesday's close price of $15.58.

Oracle made an unsolicited $6.7 billion, or $17 a share, takeover proposal in October, but the company let it expire weeks later after BEA said the bid was unacceptable. At the same time, BEA added it was looking to start negotiations with interested parties willing to pay at least $21 a share.

Oracle Strikes Deal to Buy BEA Systems for $8.5 Billion - WSJ.com

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