WSJ.com - Oracle CEO Says Co Is Unlikely To Renew Bid For BEA Systems

Oracle playing hardball... 

Oracle Corp. (ORCL) Chief Executive Larry Ellison told analysts Wednesday that the business software maker is more likely to pursue other takeover targets instead of renewing its recent $6.7 billion bid for rival BEA Systems Inc. (BEAS).

Ellison's remarks echoed statements that Oracle issued late last month when it withdrew an $17-per-share offer after BEA's board demanded $21 per share, or about $8.2 billion.

"If we made another offer, the price would be lower" than Oracle's original bid, Ellison said during a late afternoon meeting with analysts.

WSJ.com - Oracle CEO Says Co Is Unlikely To Renew Bid For BEA SystemsWSJ.com