Icahn Asks BEA Systems (BEAS) To Sell Company Through Auction
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Carl Icahn asks BEA Systems (Nasdaq: BEAS) to sell itself through auction reports Dow Jones. BEA Systems (Nasdaq: BEAS) confirmed that its Board of Directors has received an unsolicited proposal from Oracle (Nasdaq: ORCL) to acquire BEA Systems for $17.00 per share in cash.
BEA Systems said its Board has reviewed the proposal and the substance of recent management conversations with Oracle, and concluded that the proposal significantly under-values BEA Systems.
This morning, Oracle launched a $17 per share bid for BEA Systems. BEA Systems is currently trading at $18.88.
BEA Systems, Inc. (BEA) is provider of enterprise application and service infrastructure software. BEA has three primary families of products. The Tuxedo product family provides multi-language enterprise platform.
BEA Systems said its Board has reviewed the proposal and the substance of recent management conversations with Oracle, and concluded that the proposal significantly under-values BEA Systems.
This morning, Oracle launched a $17 per share bid for BEA Systems. BEA Systems is currently trading at $18.88.
BEA Systems, Inc. (BEA) is provider of enterprise application and service infrastructure software. BEA has three primary families of products. The Tuxedo product family provides multi-language enterprise platform.
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