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+-   Oracle makes 6.6 billion $ bid for BEA on Friday October 12 2007, @03:45PM andy1307

Submitted by andy1307 on Friday October 12 2007, @03:45PM
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andy1307 writes "According to this article in the San Jose Mercury News, Oracle has made an unsolicited bid to buy BEA Systems for about $6.7 billion. BEA confirmed that it rejected the $17 a share bid as too low in a letter to Oracle's president, Charles Phillips. Oracle's aggressive bid may be an attempt to pre-empt an acquisition by others, Finley said. Those named in the past as potential suitors include IBM, the German software company SAP AG and Hewlett-Packard. Trip Chowdhry of Global Equity Research said he expects a counterbid from SAP, which he said needs BEA to survive. "If they don't get BEA, probably in two years SAP will be on the block to sell itself," Chowdhry predicted. Oracle needs to keep BEA out of competitors' hands, he said."
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