Friday, October 26, 2007

Oracle Rejects BEA Price -

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 -

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