Thursday, October 11, 2007

BEA Systems Rejects Oracle Bid at $17/Share

Oracle proposed to acquire BEA Systems for $17.00 per share in cash, representing a 25% premium over the previous day's closing price of $13.62 and values the company at $6.7 billion. Oracle said the proposed merger with BEA would accelerate the development of a world-class suite of middleware for business applications.

BEA Systems' Board of Directors reviewed the bid and rejected it, saying the proposal significantly under-values BEA Systems.

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