BEA sets buyout price at $21 a share
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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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Oracle lifted its purchase offer for PeopleSoft to $24 per share from a previous bid of $21. &quot;This price represents a significant premium to recent trading prices, and is in excess of the 52
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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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BCE Inc , Canada's largest telecommunications group, has agreed to a C$51.7 billion ($48.5 billion) offer from a group including the Ontario Teachers Pension Plan, in what the purchasers said was the largest buyout in Canadian corporate history.
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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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Oracle has agreed to buy BEA Systems for around $8.5 billion, the two companies announced today.
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The Motley Fool - Shareholders of Lawson (Nasdaq: LWSN - News), a developer of enterprise software applications, haven't had the most exciting time in the last few years. Shares have swung between $5 and $7, periodically juiced by buyout rumors. Unfortunately, unless the company really does get bought out, the price will probably continue to plod along.
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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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REDWOOD SHORES, Calif. -- Business software maker Oracle Corp. said Wednesday it agreed to buy BEA Systems Inc. for about $7.85 billion, a compromise price that ends a months-long dispute over the value of the software company.
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Business software maker BEA Systems Inc  has agreed to be acquired by Oracle Corp  for $8.5 billion, the companies said on Wednesday.
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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.
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Chemicals maker to repurchase $2B of its shares.
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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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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 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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Bain Capital LLC has made a 25  billion rand ($3.48 billion) buyout offer for South Africa's  largest fashion retailer Edgars Consolidated Stores (Edcon)   in the country's biggest private equity deal yet.