BEA Defends Its Rebuff of the Takeover Attempt by Oracle - New York Times

Depending on BEA's next moves, it may be lucky to see $17/share. 

Peter Goldmacher, an analyst with Cowen & Company, said he thought that Oracle would end up paying $17 a share for BEA, because no other software companies are in a position to outbid it as they do not have the infrastructure to absorb BEA quite as easily.

Furthermore, he said, BEA’s share of the market is declining. “This company has a shelf life more like fish than wine,” Mr. Goldmacher said. “Oracle and I.B.M. are really hurting BEA in the middleware market.”

BEA Defends Its Rebuff of the Takeover Attempt by Oracle - New York Times