BEA says 'no way' to Oracle
BEA Systems turned down Oracle's bid for $6.7 billion late Sunday. BEA wanted a price of $21 per share or $8.3 billion, instead of the $17 per share offered. The company said Oracle's bid was too low, but Oracle issued a statement that did not rule out a future bid. "The BEA shareholders should not assume that Oracle will renew its $17 per share offer in the future. Over time many things can change: BEA's business might materially weaken, the stock market can fall further from its recent record highs, or Oracle may have committed its capital elsewhere," Oracle said.
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