BEA gets the best of Oracle
Oracle (ORCL) and BEA Systems (BEAS) have made up and tied the knot. On Wednesday, Oracle ended a months-long battle with BEA over terms of a buyout and said it would pay $19.38 a share in cash, or $8.5 billion, for BEA. That’s a 24 percent premium to Tuesday’s closing price. ”The addition of BEA products and technology will significantly enhance and extend Oracle’s Fusion middleware software suite,” said Oracle CEO Larry Ellison in a statement.
Of course, Ellison tried to steal BEA this summer with an offer at $17 a share - a deal that won the backing of big BEA shareholder Carl Icahn. BEA responded that it wanted to sell at $21, prompting Icahn to scoff that the company was simply pursuing “a management entrenchment tactic, not a negotiating technique.” That seemed like an odd comment at the time, given Icahn’s history of bullying executives at companies he takes a stake in. But now, with a deal closer to management’s $21 than Ellison’s original $17, it’s clear BEA chief Alfred Chuang managed to get shareholders a better deal - something Icahn surely applauds.
- Big tab for Lehman swap sellers
- Morgan Stanley tumbles again on possible downgrade
- More taxpayer money for AIG
- Legg Mason downgraded
- Feds back Morgan Stanley deal
- BofA halves dividend
- Wachovia: Citi’s loss, Buffett’s gain
- Citi left at the Wachovia altar
- Buffett support fails to lift GE
- Buffett finds GE in bargain basement
- shame on you for such a shocking head... More
- Isn't it a pity that the 'uptick' rul... More
- I invest like many others. And every... More
- You must be kidding me when you said... More
- I wonder if Henry Paulson will let Go... More
- I would like to request that Mr. Mozi... More
- if wells fargo is allowed to buy wach... More
- I am a current employee of ccity. It'... More
- AIG needs more taxpayer money, and no... More
- Know how bad GE stock has become...We... More
- Accrued Interest
- Aleph Blog
- Bespoke Investment Group
- Big Picture
- Calculated Risk
- Dealbook
- Econbrowser
- Felix Salmon
- Financial Armageddon
- Footnoted
- FT Alphaville
- Infectious Greed
- Naked Capitalism
- RGE Monitor
- Seeking Alpha
- Information Arbitrage
- Mish's Global Economic Trend Analysis
- Fortune on CNNMoney.com




