Featured Articles

Snapdragon 400 is Qualcomm’s SoC for watches, wearables

Snapdragon 400 is Qualcomm’s SoC for watches, wearables

We wanted to learn a bit more about Qualcomm's plans for wearables and it turns out that the company believes its…

More...
Qualcomm sampling 20nm Snapdragon 810

Qualcomm sampling 20nm Snapdragon 810

We had a chance to talk to Michelle Leyden-Li, Senior Director of Marketing, QCT at Qualcomm and get an update on…

More...
EVGA GTX 970 SC ACX 2.0 reviewed

EVGA GTX 970 SC ACX 2.0 reviewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
Nvidia GTX 980 reviewed

Nvidia GTX 980 reviewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
PowerColor TurboDuo R9 285 reviewed

PowerColor TurboDuo R9 285 reviewed

Today we will take a look at the PowerColor TurboDuo Radeon R9 285. The card is based on AMD’s new…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Friday, 26 October 2007 13:35

BEA issues counteroffers to Oracle

Written by David Stellmack

Image

New counteroffer of $8.2 billion proposed


After
it rejected Oracle Corporation’s purchase offer of $6.7 million, or $17/share, BEA Systems, Inc. issued a counteroffer to Oracle on Thursday, the 25th, indicating that it would be willing to be purchased for $8.2 billion, or $21/share.

Oracle promptly issued a rejection of the counteroffer and Oracle’s President, Charles Phillips, issued a letter to BEA’s Board of Directors that Oracle was standing by its earlier $6.7 billion bid until its expiration time of 5 P.M. P.D.T. on Sunday, October 28th  , adding, "…at which time Oracle will move on and evaluate other potential acquisitions." The $21/share price is the first time BEA has identified a price point for negotiations with Oracle.

BEA has been under pressure to find a buyer from Carl Icahn, a billionaire investor who has increased his percentage of ownership interest to 13 percent in BEA.  Icahn has insisted to BEA’s Board that the company is worth $21/share.  Oracle has indicated that BEA’s price is too high, considering that the $8.2 billion price is almost 11 times the amount of BEA’s revenue from its software maintenance services during the past 12 months.

Some analysts were optimistic that a deal was possible as BEA's software, known as middleware because it helps connect business computer systems, would be very desirable to add to Oracle's database programs and would help Oracle compete more equitably with SAP. Other analysts are speculating that another company interested in purchasing BEA may be working behind the scenes to woo BEA’s favor and also to drive the per share price up to the point where Oracle will walk away from the BEA counteroffer.

Beyond Oracle, other companies that have been rumored as potential BEA buyers include IBM, Hewlett-Packard and SAP.

Follow the BEA saga by reading more here.


Last modified on Friday, 26 October 2007 14:12

David Stellmack

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments