Software Titan Oracle Eyes Another Conquest

Back-and-forth with Oracle continues; latter originally offered $6.7B for buyout

(NEWSER) - The board of BEA Systems responded to a time-sensitive takeover offer from Oracle today, valuing itself at $8.2 billion—fully $1.5 billion more than the database giant's bid. Oracle’s $17-a-share offer, now two weeks old, will expire on Sunday evening if BEA doesn’t act on it. But the fiercely independent middleware company says a sale at that figure simply isn’t in its “best interests,” the Journal reports. More»

Deal for business software maker closes after Ellison bumps price

(NEWSER) - Business software maker Oracle continued its yearlong buying spree, closing a contentious deal with middleware maker BEA Systems after raising its offer to $8.5 billion, or $19.38 a share, Bloomberg reports. In October, Oracle offered BEA $6.7 billion, or $17 per share, and was rejected. Instead BEA, one of the Silicon Valley's last midsize independents, demanded what Oracle termed an "impossibly high" $21. More»

Firm now faces internal and external pressure to lower its price

(NEWSER) - Having held out on a time-sensitive $6.7 billion offer from Oracle, BEA Systems management now faces a charge to oust them by billionaire shareholder Carl Icahn, who wields a massive 13.2% stake in the company, the AP reports. BEA says it will not entertain any offer that values it at less than $21 per share -- Oracle offered $17 per share — but to appease Icahn it hinted at other possible buyers. More»

Software giant says renewal not impossible, but highly unlikely

(NEWSER) - Software mogul Oracle made good today on its threat to drop a $6.7 billion offer to buy BEA systems, after the latter failed to meet the October 28 deadline. Oracle said BEA shareholders should "not assume" it will renew the offer, though it did not rule out the possibility, either, if shareholders were to force the company's hand, the Financial Times writes. More»

(NEWSER) - Oracle Corp. has agreed to buy Sun Microsystems, swooping in after Sun’s talks with IBM fell apart. Oracle will pay $7.4 billion, or $9.50 a share for Sun, the Wall Street Journal reports, a 42% premium on Friday’s close. Though Sun has been losing money, Oracle expects the deal to tack $1.5 billion onto its profits in the first year, and called Sun’s Java platform “the most important software” it’s ever acquired. More»