BEA says no dice to Oracle acquisition
Last modified on Wednesday, 24 October 2007 13:50
BEA Systems Inc. has said no a second time to Oracle Corporation’s $6.7 billion ($17/share) unsolicited offer to acquire BEA. BEA reportedly informed Oracle that the price did not reflect the value of the company.
However, BEA did not close the door in Oracle’s face. BEA issued a statement that its Board of Directors would not be opposed to an offer that more appropriately reflected BEA’s value under terms that were reached through a reasonable process.
Oracle continues to fume as it has already offered BEA what it claims is 20% over the market value of the shares.