Business Technology : 2007 : October::
BEA officially rejected Oracles $6.7 billion takeover offer, according to Oracle. that $17 per share is too low a price–implies that theres room
http://blogs.wsj.com/biztech/2007/10/page/3/HOME |
BEA has responded to Oracle's offer this week to buy the company for $17 per share in cash, calling the offer too low.
The company has forwarded a letter to Oracle President Charles Phillips to this effect:
Infrastructure | Oracle Analyst Reports::
We think Oracle made a good move with this acquisition. Not Only Good But Affordable Too! (PDF) Gartner, Oracles Post-BEA Middleware Road Map Unveiled
http://www.oracle.com/corporate/analyst/reports/infrastructure/index.htmlHOME |
Techmeme: Will BEA Sell to Oracle? (Darryl K. Taft/eWEEK.com)::
Eric Savitz / Tech Trader Daily: BEA To Oracle: Your Bid Is Too Low; This Could Get Ugly Update: Oracle offers $6.7 billion to buy BEA Systems
http://www.techmeme.com/071012/p71HOME |
"Our Board of Directors acknowledges your interest in BEA as expressed in your letter of October 9 and is considering it in
consultation with our advisors. It is apparent to our Board, however, that BEA is worth substantially more to Oracle, to others
and, importantly, to our shareholders than the price indicated in your letter," BEA's William Klein, vice president of planning
and development, said in the letter.
Open Source | ZDNet.com::
update builds on the Compiere 3.0 release announced last December and offers as will Oracle, which announced its major acquisition of BEA systems also today.
http://blogs.zdnet.com/open-source/?cat=62HOME |
"As we have indicated to you previously, we believe that the absence of current financial information in the public markets
limits investor visibility into our performance. We expect that this will be corrected in the near future when we become current
on our SEC filings, and can communicate more fully with the investment community," said Klein.
BEA has had to delay its financial filings as it reworks previous numbers due to an issue with back-dated stock options, something that affected other technology companies as well.
Klein also asked for clarity about what is meant that Oracle plans to proceed with the process.
"As we have made clear to you in previous discussions, we are very sensitive to the fact that Oracle is a direct competitor
of BEA. Therefore, the Board cannot consider any process that is long in duration, open-ended in nature, or would divulge
competitively sensitive information which could materially harm our business and our shareholders' interests," Klein said.
BEA rejects $6.7 billion Oracle offer, rival bids seen | Markets ::
throwing the company into play by saying the unsolicited offer was too low. UPDATE 3-Fay batters Cuba coast, en route to Florida
http://www.reuters.com/article/bondsNews/idUSN1222768020071012HOME |
The full sale price, based on Oracle's bid, has been valued at about $6.7 billion by the Wall Street Journal.
BEA also has been under pressure to sell by stockholder Carl Icahn.
The tone of BEA's statement, which calls the offer unsolicited and inadequate, conflicts with the one from Oracle, which said
it looked forward to completing a friendly transaction soon. That difference makes the offer reminiscent of the lengthy and acrimonious takeover battle that Oracle waged over PeopleSoft.
"I think they have a chance of resisting," said Laura DiDio, research fellow at Yankee Group, of BEA's prospects. "But ultimately,
if Oracle raises the stakes enough and swings the board and shareholders in its favor, it'll all be over."
BEA is slightly bigger although not as established as PeopleSoft was, she said. "The PeopleSoft thing was just an abject lesson
in what happens in a hostile takeover. For them, resistance did prove futile," she said.
From a business perspective, the acquisition does make sense, she said. BEA has a very strong product portfolio representing
a niche that Oracle could use, she said.
BEA is currently the number-two middleware provider by market share behind IBM, according to a report from Citi. If Oracle's
takeover is successful, Oracle will move to second place, followed by Microsoft, Citi said.
Analysts from Citi said the $17 per share offer is fair and, if successful, would be Oracle's second biggest takeover behind
PeopleSoft.
Essentially, the outcome of the bid comes down to a boardroom power play, DiDio said. Oracle, which has been on a "buying
binge that shows no signs of abating" over the past few years, has done well convincing takeover targets, she said. "[Oracle
CEO Larry] Ellison has had an impressive track record," DiDio said. "What it comes down to ... is who is the biggest, baddest
alpha dog, and Larry is quite formidable."
This story was updated on October 12, 2007; Nancy Gohring of IDG News Service contributed to this story.
 Where was the last debate on wednesday with Mccain and Obama?
 INSTANCE / WAITING FOR SPRING
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Update: BEA calls Oracle acquisition offer too low