BEA options re-statement hits $400m mark
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EVP loses his E BEA Systems will restate almost a decade's worth of earnings to the tune of nearly $400m thanks to misallocation of stock to employees.â¦
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The October futures contract was up 34 cents to $43.44 in electronic pre-floor trading on the New York Mercantile Exchange. Prices have fallen about 12% since touching a record intraday high of $49.
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The Chicago Board Options Exchange, the largest U.S. options market, said on Tuesday that second-quarter profit after taxes rose 31 percent on increased option volume and expanded product offerings.
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Oracle's offer of $17 per share? No thanks, BEA says again--and this time, it's countering with what it sees as a better value for its shareholders.
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Carl C. Icahn thinks BEA Systems should sell itself for $17 a share. Except when he doesnât. Right now, at least, the corporate rabble-rouser is furious that BEA refused to accept Oracleâs takeover offer, one that expired Sunday night. Mr. Icahn on Friday even took the next step of filing a lawsuit in Delaware court to [...].
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Oracle has agreed to buy BEA Systems for about $8.5 billion, or $19.375 per share, the companies announced.
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We've already established what you are, now we're 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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On Wednesday, the company&#39;s shares (NYSE: DWA) were priced at $28, according to media reports. That was above the $23 to $25 range predicted.
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Jones said the deal is valued at approximately $400 million, including cash consideration of $19 per share to Barneys stockholders totaling $294.
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MicroStrategy Inc.'s share price  soared 31 percent yesterday, the day after the McLean software company posted better-than-expected third-quarter earnings.
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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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WATERLOO, Ontario -- BlackBerry maker Research In Motion Ltd. said Monday it will restate its financial statements as far back as fiscal 2004 because of past stock option reporting errors and it anticipates a $250 million reduction in previous earnings. Chairman and co-CEO Jim Balsillie is stepping...
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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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Research in Motion said it would restate $250 million in results, far more than it originally predicted, after a review of its stock-option grants.
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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.
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NetSuite set the initial price of its stock at $26, exceeding its original estimate of $13 to $16 per share.
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Oracle rejected BEA Systems' proposed purchase price of $21 per share, calling it "impossibly high" for Oracle or any other company.