Monday, October 29, 2007

Oracle Offer For BEA Systems Expires

Oracle's offer to acquire BEA Systems expired Sunday evening, after BEA's board rejected Oracle's takeover bid for the company. Oracle, which had threatened to walk away from the offer, said in a statement last night that "BEA shareholders should not assume that Oracle will renew its $17 per share offer in the future." Oracle said in the statement that BEA's board hare repeatedly rejected the firm's offer and refused to meet with the company.