Oracle sets deadline for BEA offer
635114
The takeover bid of $17 per share is now set to expire Sunday, unless the middleware company agrees to put its offer before shareholders for a vote.
604243
BEA has told Oracle that it would, in fact, entertain an acquisition offer -- just not the one Oracle has proposed.
136923
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.
52477
Software maker BEA Systems Inc's  board said on Monday it is holding out for a $21-a-share takeover offer, a day after its larger rival Oracle Corp  withdrew its $17-a-share offer.
326387
Hewlett-Packard has extended the deadline for Mercury Interactive shareholders to tender their shares in favor of the companies'Â proposed $4.5 billion merger.ADVERTISEMENTMAKE SOA REAL WITH IBM WEBSPHERE PODCASTStreamline processes and maximize efficiency within a proven service oriented architecture. Take back control of your business processes with IBM WebSphere.
295373
Oracle has rejected&#160;BEA Systems&#39; proposed purchase price of $21 per share, calling it &quot;impossibly high&quot; for Oracle or any other company to pay.In a letter to BEA&#39;s board dated Oct. 25, Oracle again urged the company to accept its offer of $17 per share, an amount that Oracle said it was &quot;unwilling to increase.&quot;&quot;The $21 per share price is a multiple of nearly eleven times BEA&#39;s last twelve months&#39; reported maintenance revenues,&quot; wrote Oracle President Charles Phillips. &quot;Nobody would seriously consider paying that kind of multiple for a software company with shrinking new license sales.&quot;He noted that Oracle was the only company making an offer for BEA. &quot;Apparently no other companies think that BEA is worth $17 per share, let alone $21 per share,&quot; Philips wrote.Oracle again urged BEA to put its offer to a shareholder vote.&#160;Oracle&#39;s bid of $17 per share&#160;values BEA at about $6.7 billion. A price of $21 per share would value it at $8.3 billion.Oracle said it had an obligation to its own shareholders to &quot;exercise price discipline when evaluating acquisition opportunities.&quot; It reminded BEA of its&#160;deadline of Sunday evening&#160;to accept the offer, after which it will &quot;move on&quot; and consider other acquisitions.Oracle made its surprise bid for BEA on Oct. 12, hoping to strengthen its line of middleware products and grow its customer base. BEA, which had been under pressure from investor Carl Icahn to sell, quickly rejected the offer as too low, and on Thursday came back with its suggested higher price. Oracle&#39;s offer &quot;significantly undervalues BEA&quot; and is not in the best interests of BEA&#39;s shareholders, it said on Thursday.BEA officials weren&#39;t available for comment on Oracle&#39;s latest letter.&#160;
257830
Oracle rejected as âimpossibly highâ BEAâs offer to be acquired for about $8.2 billion, just two weeks after BEA refused Oracleâs $6.7 billion offer for the company.
278206
After allowing Oracleâs buyout offer to expire on Sunday, BEA Systems defended its inaction in a letter to its largest shareholder, Carl C. Icahn, saying the offer was simply too low.
768811
After shooing away Oracle Corp.'s $6.7 billion takeover bid, business software maker BEA Systems Inc. dug in its heels for a potentially disruptive battle with its largest shareholder, activist investor Carl Icahn.
276959
BEA Sunday let a 5 p.m. Pacific Time deadline expire on Oracle's $6.7 million bid for the company
246496
BEA Systems Inc  said on Friday it still cannot accept the $17-per-share takeover bid from Oracle Corp  as it significantly undervalues the business software maker.
485245
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.
715248
BEA Systems made good Sunday on its promise to let a 5 p.m. Pacific Time&#160;deadline expire on Oracle&#39;s $17-per-share offer to buy the company.
316658
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.
648764
SAN FRANCISCO  - Business software maker  Oracle Corp.  said on Thursday it extended again its $7.7 billion hostile tender offer for PeopleSoft Inc. , to Sept. 10, as it awaits a U.S. District Court judge's ruling on whether the takeover attempt can move forward.
408101
BEA agreed to be acquired by Oracle for $8.5 billion, three months after rejecting the database vendor's $6.7 billion offer.
376025
BEA Systems&#39; board of directors has named an acquisition price to competitor and suitor Oracle: $21 a share, $4 more than Oracle&#39;s initial offer.&quot;We continue to believe that&#160;Oracle&#39;s unsolicited proposal to acquire BEA&#160;at $17.00 per share significantly&#160;undervalues BEA, and is therefore not in the best interests of BEA shareholders,&quot; the company said in a statement Thursday.Oracle on Tuesday set a deadline&#160;of Sunday for BEA to accept its &quot;generous&quot; original bid, which totals about $6.7 billion. The company also indicated it had no interest in a protracted merger battle.But BEA declared Thursday that the company&#39;s existing assets and future business prospects dictate a significantly higher sale price. The company said it has customers for its array of enterprise software among 75 percent of the Fortune Global 500, along with $1 billion in cash reserves and no debt.BEA said it arrived at the $21-per-share figure after talking to its financial advisor, Goldman Sachs. The company said it has authorized its attorneys to give a draft merger agreement to third parties willing to meet the price. The agreement would &quot;provide for an appropriately high degree of certainty of closing,&quot; BEA said.A successful purchase of BEA would significantly increase Oracle&#39;s standing in the middleware space. While some BEA assets would help round out Oracle&#39;s offerings, the companies overlap in key categories like Web servers and ESB (enterprise service bus) products.