Menu
Oracle's BEA bid turns unfriendly

Oracle's BEA bid turns unfriendly

Oracle responded to statements from BEA today, saying it has offered to agree to a friendly takeover process.

Oracle's bid for BEA Systems appears to be getting ugly with the latest statement from Oracle.

Late last week, Oracle released a letter addressed to BEA's board in which Oracle President Charles Phillips says he asked BEA Vice President Bill Klein early in the day if there was any process BEA would like to follow to move toward a friendly transaction. Klein responded that the company didn't have another process in mind, according to Phillips.

That exchange followed BEA's cancellation of a meeting designed to work through an agreement that would be complete before the opening of business this week, Oracle said.

"We are available to proceed immediately with a process that would lead to a friendly transaction," Phillips wrote.

Oracle had previously announced that it had offered US$17 per share in cash for BEA. In response, BEA said the offer was inadequate, characterizing it as unsolicited.

The situation is reminiscent of Oracle's acquisition of PeopleSoft, which resulted in a lengthy takeover battle.

If BEA did indeed have a change of heart about an offer from Oracle, it's probably for good reason, said Ray Wang, a Forrester analyst. "BEA probably thinks it has other options," he said. He's hearing speculation that BEA has another bid on the table or that it is considering other arrangements, such as taking itself private in order to stay independent, he said.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Events

Featured

Slideshows

Channel kicks 2021 into gear as After Hours returns to Auckland

Channel kicks 2021 into gear as After Hours returns to Auckland

After Hours made a welcome return to the channel social calendar with a bumper crowd of partners, distributors and vendors descending on The Pantry at Park Hyatt in Auckland to kick-start 2021.

Channel kicks 2021 into gear as After Hours returns to Auckland
The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards

The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards

Hundreds of leaders from the New Zealand IT industry gathered at the Hilton in Auckland on 17 November to celebrate the finest female talent in the Kiwi channel and recognise the winners of the Reseller News Women in ICT Awards (WIICTA) 2020.

The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards
Leading female front runners honoured at the 2020 Reseller News Women in ICT Awards

Leading female front runners honoured at the 2020 Reseller News Women in ICT Awards

The leading female front runners of the New Zealand ICT industry joined together for the annual Reseller News Women in ICT Awards event at the Hilton in Auckland, during which hundreds of guests celebrated 13 outstanding individuals who won awards, chosen from more than 50 finalists representing over 30 organisations.

Leading female front runners honoured at the 2020 Reseller News Women in ICT Awards
Show Comments