BEA: We'll let Oracle deadline expire
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BEA Systems reiterated on Friday that it would not accept&#160;Oracle&#39;s $17 per share acquisition bid, and also said it would allow&#160;a deadline Oracle had set for Sunday 5 p.m. PDT&#160;to expire.
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BEA Systems Inc  shares fell 4  percent on Tuesday on concerns a $6.7 billion takeover bid by  Oracle Corp  will fall through after both sides refused  to budge from their positions.
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BEA Systems Inc  said on  Thursday it is willing to sell itself for $8.2 billion, but the  price was rejected as "impossibly high" by Oracle Corp  , the only company that has publicly expressed interest  in the software maker.
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SAN FRANCISCO, Oct. 26  â The business software maker BEA Systems signaled its intent to let Oracleâs $6.7 billion takeover bid expire Sunday, setting the stage for a showdown with its largest shareholder, the billionaire investor Carl C. Icahn.
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NOVEMBER 19, 2004 (IDG NEWS SERVICE) - The midnight expiration of Oracle Corp.&#39;s tender offer to PeopleSoft Inc.&#39;s shareholders for control of the company will either end the software rivals&#39; bitter, 17-month battle tonight -- or increase its ferocity.
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Oracle&#160;on Tuesday morning said that BEA Systems has officially rejected its&#160;offer to acquire the company. BEA had previously said the&#160;offer was too low.&quot;Last night we were told by Bill Klein, Vice President -- Business Planning and Development (speaking on behalf of the board), that BEA&#39;s board again rejected our proposed price of $17 per share in cash,&quot; Oracle said in a statement, adding that the BEA board &quot;has refused to meet with us since we made our October 9th proposal.&quot;Oracle set a deadline for Sunday at 5 p.m. local time on its $17 per share bid.&quot;Oracle has no interest in a long, drawn-out process to acquire BEA,&quot; Oracle said.The total value of the bid is about $6.7 billion.(More to follow.)
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Oracle Corp , the world's  third-largest software maker, won a three-month-long campaign  to buy BEA Systems Inc  by raising its bid for the  company by 14 percent to $8.5 billion.
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Oracle withdraws its $6.7 billion buyout bid for BEA Systems, after the middleware maker refuses to entertain its $17 a share bid.
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Oracle Corp  on Wednesday won a three-month-long campaign to buy BEA Systems Inc  by raising its bid for the business software maker by 14 percent to $8.5 billion.
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BEA Systems Inc  said on  Thursday it is prepared to sell itself for $8.2 billion, which  is a 24 percent premium to a bid from Oracle Corp  that  the business software maker rejected.
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BEA Systems Inc  shares fell  6.5 percent on Friday to trade below Oracle Corp's  bid  for the first time since it was made, as the deadline for the  offer loomed with no signs of an agreement.
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Oracle has set a deadline for Sunday on its bid to buy BEA, which has officially rejected its $6.7 billion offer.
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Oracle has agreed to buy BEA Systems for about $8.5 billion, the companies announced Wednesday.The deal comes just three months after&#160;the middleware vendor turned down an earlier offer of $6.7 billion.Oracle hopes that acquiring middleware vendor BEA will&#160;allow it to improve its own middleware suite, Fusion.That middleware is key to helping customers migrate their systems to a services-oriented architecture (SOA), CEO Larry Ellison said in a conference call last month to discuss the company&#39;s earnings.With Fusion already able to link to BEA&#39;s WebLogic Java application server, the deal is likely to speed Oracle&#39;s adoption of Java-based middleware, the company said.Oracle&#39;s customers have been telling it for years to buy BEA, it said.However the members of BEA&#39;s board were less sold on the idea: They&#160;turned down an offer from Oracle of $17 per BEA share in October, saying it &quot;significantly undervalues BEA.&quot; Oracle in turn&#160;dismissed the BEA board&#39;s counter-offer of $21 per share as &quot;impossibly high&quot;.But on Wednesday the companies split the difference, and BEA&#39;s board announced it had unanimously approved Oracle&#39;s latest offer of $19.375 in cash per BEA share.The board accepted only after spending several months looking for other ways to maximize shareholder value, BEA&#39;s chairman and CEO Alfred Chuang said in a statement.The companies expect to close the deal by mid-year, subject to the approval of regulators and BEA shareholders.&#160;
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Ziff Davis - The long wait for a decision in the government's antitrust trial against Oracle has prompted the company to extend the deadline yet again for its &#36;7.7 billion attempted buyout of PeopleSoft.
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Business software maker Oracle Corp. agreed Wednesday to buy BEA Systems Inc. for about $7.85 billion, a compromise price that ends a months-long dispute over the value of the company that pioneered Web services software.
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SAN FRANCISCO, Oct. 26  Â The business software maker BEA Systems signaled its intent to let Oracleâs $6.7 billion takeover bid expire Sunday, setting the stage for a showdown with its largest shareholder, the billionaire investor Carl C. Icahn.
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A deadline on private bids for Northern Rock, the bank almost ruined by the squeeze on global credit, was to expire on Monday amid speculation that three proposals will be made to the board.