The Channel logo


By | Joe Fay 26th October 2007 09:56

Oracle snubs BEA on share price

$21 per share? You're having a laugh

Oracle scoffed at BEA last night, describing the middleware's self-set $21 per share price tag as "impossibly high" and saying it had no intention of raising its offer.

BEA has been snubbing Oracle's offer of $17 per share, but yesterday said it would authorise negotiations with Oracle and other bidders at a price of $21 per share – valuing the company at $8.15bn.

Last night Oracle derided BEA's board for seeking "an 80 per cent premium to BEA's stock price before the appearance of activist shareholders who are pushing the BEA board to sell the company".

It went on to twist the knife, saying: "Nobody would seriously consider paying that kind of multiple for a software company with shrinking new license sales."

Oracle restated its call for BEA's board to put its $17 per share offer to a shareholder vote, and reiterated its intention to drop the bid and "move on and evaluate other potential acquisitions" if BEA's directors refuse to play ball. ®

comment icon Read 2 comments on this article alert Send corrections


Frank Jennings

What do you do? Use manual typwriters or live in a Scottish croft? Our man advises
A rusty petrol pump at an abandoned gas station. Pic by Silvia B. Jakiello via shutterstock

Trevor Pott

Among other things, Active Directory needs an overhaul
Baby looks taken aback/shocked/affronted. Photo by Shutterstock

Kat Hall

Plans for 2 million FTTP connections in next four years 'not enough'
Microsoft CEO Satya Nadella


League of gentlemen poster - Tubbs and Edward at the local shop. Copyright BBC
One reselling man tells his tale of woe