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(October 27, 2007) - Billionaire Carl Icahn, BEA's biggest shareholder with approx 15% of its stock, has told a reporter that it is "insane" for the company to reject out of hand Oracle's unsolicited bid. "I'm not saying I accept $17," Icahn told Reuters. "It's going to be a three-month process." BEA is insisting that it's worth $21 per share. Icahn has written a letter to the BEA board, disclosed in an SEC filing, demanding that it let shareholders vote on what the best bid for BEA might be. The choices, he believes, ought necessarily to  include the existing $6.7BN offer from Larry Ellison's Oracle Corp. In his letter Icahn states:"If a topping bid arises, then all the better ... But if no topping bid arises it should be up to the BEA shareholders to decide whether to take the Oracle bid or remain as an independent company." He added, scornfully: "In particular I vi... (more)

Oracle-Sun: Transaction Uncertainty Is What Led Sun to Oracle Over IBM

According to the Wall Street Journal this morning, Oracle - rather than IBM - acquired Sun because of "transaction uncertainty" among Sun's board of directors - mainly caused by Big Blue lowering its bid price from $10 to $9.40 per share, and specifying that the deal was contingent on other items and conditions. Reporter Dan Gallagher notes that while IBM isn't mentioned in the filing by name, Sun's references to "Party A" and "Party B" can only refer to IBM and Oracle, the two companies involved in the dramatic first few weeks of April. As we all now know, Oracle delivered an offe... (more)

Rick Schultz, Oracle

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Oracle to Buy Software Maker ProfitLogic

Oracle is buying privately held ProfitLogic, a maker of retail forecasting software, for undisclosed terms, the latest in a string of deals by the world's No. 2 software company to consolidate the business software industry. ProfitLogic makes software that helps retailers make more accurate sales forecasts and pricing decisions by analyzing customer demand patterns. Customers include upscale department store Bloomingdale's and the Toys R Us retail chain. Oracle said in a statement it expected to close it deal to acquire ProfitLogic of Cambridge, Mass., by the end of July. The pr... (more)

ORACLE BEA: Chuang Rejects Oracle's Hostile Bid

(October 19, 2007) - It's unclear where BEA is going to run and hide to avoid a shotgun wedding, but its board late Friday rejected Oracle's $6.66 billion marriage proposal. In a letter to Oracle that the board made public it expressed irritation that Oracle had made its wooing known and rated Oracle's $17-a-share offer as undervalued, a position that the board found reinforced by the fact that the stock was bid up over Oracle's offer price Friday once the market realized that Oracle was making a hostile run at BEA. Evidently BEA failed to turn up at a rendezvous. Oracle says BEA... (more)