Oracle offers $17 a share for BEA Systems

Oracle Corp. said Friday it has made an offer to acquire BEA Systems Inc. in a cash deal worth $17 a share, or $6.7 billion.

The deal represents a premium of 25% over BEA Systems' closing price of $13.62 on Thursday.
But BEA shareholders -- some of whom have been agitating for a sale of the company -- seem to believe a higher offer may be coming: The company's shares opened Friday morning trading at $18.19.

"We have made a serious proposal including a substantial premium," Oracle President Chuck Phillips said in a statement. "We believe our all-cash offer provides the best value for BEA's shareholders and the best home for BEA's employees and customers."

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- Posted: 2007-10-12 10:37:20

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