Oracle’s $25-billion, three-year shopping spree won’t include rival BEA Systems, at least not at the $17 a share it offered last month, reports the San Jose Mercury News. BEA spurned the nearly $6.7-billion bid, demanding $21 a share. “If their goal was to stay independent, I think they're doing a good job,” CEO Larry Ellison said.
Ellison said Oracle, after acquiring its primary targets, would continue looking at its “second favorite stocks,” especially if the weakening economy hurts the tech sector. Analysts believe an Oracle/BEA deal is inevitable as billionaire Carl Ichan, who owns 13.2% of BEA pushes for a sale. BEA shares rose 51 cents to $17.40 yesterday, then fell 39 cents in after-hours trading.