Oracle turned up the heat under BEA earlier this week by saying its $17 per share offer will expire Sunday if BEA does not agree to a deal or put the bid to a shareholder vote. BEA responded to the threat Thursday by saying it is willing to negotiate with potential acquirers, including Oracle, but at $21 a share.
BEA's board said in a statement it continues to believe that Oracle's bid "significantly undervalues BEA, and is therefore not in the best interests of BEA shareholders."
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1. I still think the original offer by Oracle was more than fair. If you want my opinion BEA is shooting itself in the foot. They may have another buyer out there, but I doubt it. Oracle may give in, they did raise their offer for PeopleSoft. We should know in a day or so, both companies are probably using backchannels to negotiate as we speak http://www.newsvisual.com/newsvisual/2007/10/oracle-and-bea.html
Posted at 5:00PM on Oct 25th 2007 by Chang Gang