Oracle bid for BEA expires as expected
BEA Systems made good on its promise to let a Sunday 5 p.m. Pacific Time deadline expire on Oracle's US$17-per-share offer to buy the company.
BEA Systems made good on its promise to let a Sunday 5 p.m. Pacific Time deadline expire on Oracle's US$17-per-share offer to buy the company.
BEA Systems replied Monday to investor Carl Icahn's demand for a shareholder vote on purchase bids for the company.
BEA Systems' largest shareholder is demanding that its board of directors allow shareholders to vote on a US$17-per-share purchase offer from Oracle, which is set to expire at 5 p.m. Pacific Time Sunday.
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BEA System's board of directors has named an acquisition price to competitor and suitor Oracle: $US21 a share, $4 more than Oracle's initial offer.
Oracle has released the Windows version of its flagship 11g database, a few months after the company shipped the Linux version. Along with assorted performance improvements, the Windows release features beefed-up integration with Microsoft's platform on both the administrative and developer levels.
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BEA Systems has told Oracle the two companies can still make a deal -- just not the one on the table.