BEA to Oracle: No ThanksBy Renee Boucher Ferguson | Posted 2007-10-12 Email Print
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BEA's board rejects Oracle's bid as too low.The board of directors of BEA Systems has declined Oracle's offer to acquire the company at $17 per share, saying the bid "significantly undervalues" BEA, according to a report on MarketWatch.com.
Oracle announced its intent to acquire BEA earlier in the day on Oct. 12. BEA's board had sent a letter to Oracle Oct. 11 stating that it couldn't become embroiled in any negotiations with Oracle, given that the companies are in direct competition, according to the report.
Click here to read more about questions raised by Oracle's bid for BEA Systems.
Read the full story on eWEEK.com: BEA to Oracle: No Thanks