BEA offers peek into market psyche
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Market reaction to BEA Systems' stock options backdating inquiry this week provided a clue to investor psychology, while RealNetworks and Microsoft offered a look at the future of aspects of the software and services business.
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We've already established what you are, now were just working out a price BEA blinked this morning and said it would enter takeover negotiations with Oracle, and anyone else thatâs interested, at a floor of $21 per share.â¦
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Users are hoping that new SOA tools unveiled at BEA's user conference can further improve the often-thorny relationship between IT and business users.
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The market's best returns may be hiding in the blue-chip basket.
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SAN FRANCISCO - Oracle Corp. , the third-largest software maker, gave BEA Systems Inc.'s directors five days to consider a $6.7 billion takeover offer before it expires. BEA said it can't accept Oracle's price.
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BEA Systems&#39; largest shareholder is demanding that its board of directors allow shareholders to vote on a&#160;$17-per-share purchase offer from Oracle, which is set to expire at 5 p.m. Pacific Time Sunday.Carl Icahn, who holds more than 58 million shares of BEA stock, said in a statement that he has begun lawsuit proceedings in Delaware to force an annual shareholder meeting &quot;before any scorched earth transactions (such as stock issuances, asset sales, acquisitions or similar occurrences) take place at BEA, other than transactions that are approved by shareholders.&quot;The investor accused BEA&#39;s board of intending &quot;to find ways to derail a sale and maintain your control of the company.&quot;&#160;BEA&#39;s board has repeatedly rejected Oracle&#39;s bid&#160;to buy the company,&#160;demanding $21 per share. Oracle&#39;s offer amounts to $6.7 billion, while BEA&#39;s demand works out to $8.3 billion. Oracle has called that price &quot;impossibly high.&quot;Icahn said BEA can avoid litigation if it conducts an auction sale, allowing shareholders to consider offers from the highest bidder.&quot;BEA should not allow the stalking horse bid from Oracle to disappear (failure to take the Oracle bid as a stalking horse would be a grave dereliction of your fiduciary duty in my view),&quot; he wrote. &quot;But if no topping bid arises it should be up to the BEA shareholders to decide whether to take the Oracle bid or remain as an independent Company.&quot;Icahn also demanded that &quot;BEA should agree not to take any action that would dilute voting by issuing stock, entrench management or derail a potential sale of BEA.&quot;Shares of BEA stock closed at $16.50 and were trading at $16.75 after hours on Friday.A BEA spokesman could not immediately be reached for comment.
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With consolidation at a fever pitch in the enterprise business intelligence (BI) market, it would be understandable if MicroStrategy customers felt nervous, given that the vendor remains as one of the market's few independents.
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BEA Systems said Thursday it is prepared to discuss a sale of the company to Oracle Corp. and other potential suitors at a price of $21 per share.
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A proliferation of exhibition halls has led to a buyerÂs market for trade associations and corporate planners.
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BEA Systems replied Monday to investor Carl Icahn&#39;s demand for a shareholder vote on purchase bids for the company.&quot;The Board and management of BEA Systems are not opposed to an acquisition of the company. In fact, we are currently exploring ways to maximize shareholder value, including the possible sale of the company,&quot; the statement reads in part.The board goes on to repeat its argument that Oracle&#39;s US$17 per share offer, which expired Sunday, was too low. BEA has asked for $21 per share but received no takers to date, or indeed any other public bids at all. Oracle&#39;s offer was worth $6.7 billion, as opposed to the approximately $8.3 billion BEA&#39;s asking price would command.BEA emphasized that it is open to being acquired. &quot;It is important that there be no misunderstanding of the Board&#39;s position. We are opposed to selling the company at $17.00 per share. We are not opposed to selling the company.&quot;Icahn is BEA&#39;s largest shareholder. He said in a statement Friday that he had filed suit in Delaware to force a shareholder meeting. The investor wants BEA&#39;s board to hold an auction sale, at which shareholders could consider offers from the highest bidder.To that end, Oracle did not rule out further bids in a statement released Sunday: &quot;The BEA shareholders should not assume that Oracle will renew its $17 per share offer in the future. Over time many things can change: BEA&#39;s business might materially weaken, the stock market can fall further from its recent record highs, or Oracle may have committed its capital elsewhere.&quot;BEA users have speculated over what might happen to the company&#39;s middleware technologies, should a sale to Oracle or another party go through.BEA&#39;s stock was trading at about $16.70 per share midday Monday.
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The Express version of the new WebSphere server is targeted at the small and midsized business market. &quot;The SMB market has become much more pivotal and crucial to everyone,&quot; according to Yankee Group analyst Laura DiDio.
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Feed your inner bear to find the best buys.
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Integration 101 Mini Poll Well, the shareholders succumbed in the end, and BEA is now to be part of the mighty machine that is Oracle (see here if you missed the news). This probably didn't come as that much of a surprise to the pundits, and the BEA shareholders must obviously think they're getting a good deal. Beyond the wheeling, dealing and competitive shenanigans, though, we'd be interested in your views of how the move is likely to impact those that matter the most â the customers.â¦
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BEA Systems replied Monday to investor Carl Icahn&#39;s demand for a shareholder vote on purchase bids for the company.
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On paper, Oracle?s recent $6.7 billion offer for BEA Systems looks a lot like the hostile bid for PeopleSoft four years ago ? a bad-for-competition, bad-for-employees, bad-for-customers deal designed with one goal in mind: fatten Oracle shareholders? wallets by taking out a competitor.
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A new word-of-mouth research firm is attempting to demystify chatter about brands in the offline world.
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More and more retailers are employing rigorous scientific techniques to improve their bottom line.