BEA Sets $21 Per Share Buyout Value -- Redmondmag.com

BEA Sets $21 Per Share Buyout Value

By The Associated Press
10/25/2007

BEA Systems said Thursday it is prepared to discuss a sale of the company to Oracle Corp. and other potential suitors at a price of $21 per share.

That is well above the $17 per share bid that larger rival Oracle made two weeks ago for the business software maker. BEA has twice rejected the offer as too low, according to Oracle.

BEA said it reached the $21 figure after consultation with adviser Goldman Sachs. BEA said it is "prepared to authorize negotiations with third parties including Oracle" at that price.

The $21 price values BEA at about $8.15 billion, based on its roughly 388.2 million outstanding shares as of April 2006, the last time BEA filed a quarterly report with regulators. Oracle's offer values BEA at about $6.7 billion.

On Tuesday, Oracle set a deadline for this Sunday evening for BEA to accept its original offer.

BEA's board said Thursday it will "continue to vigorously oppose a sale to Oracle at $17 per share" because it undervalues the company.

Featured

Cisco Warns of Brute Force Attacks Targeting VPNs and Firewalls

Cisco has revealed that a global increase in brute force attacks targeting Virtual Private Networks (VPNs) and other devices is currently taking place.
What's Inside Microsoft 365's Security Toolbox?

Microsoft provides plenty of native tools to secure Microsoft 365. IT pros just have to know where to look.
Microsoft Kills 30-Day Data Retention Policy for Copilot in Fabric

Microsoft this week announced several usability improvements coming to Copilot in Fabric in preparation of its general availability release later this year.
Using Microsoft Office to Build a Network Diagram 2

Now that we've set up our process, let's dig in with the actual execution.
Microsoft Graph 'Activity Logs' Feature Goes Live

Microsoft announced the general availability of the "activity logs" capability in Microsoft Graph, giving administrators more options to track user activity and identify patterns of potential misuse.