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November 05, 2007 | Comments: (0)
BEA to open books to Icahn
BEA Systems said Monday it plans to provide confidential information to disgruntled investor Carl Icahn about why the recently expired $17-per-share bid for the company submitted by Oracle was too low.
"We are pleased to be able to share non-public information about BEA's business with Mr. Icahn," said CEO Chairman/CEO Alfred Chuang, in a statement released by the company. "We are confident this information will enable him to appreciate that the $17-per-share bid from Oracle significantly undervalues BEA in a sale."
Chuang in the statement also said he wanted to dispel any speculation that the company would engage in "scorched earth" transactions at shareholders' expense or discourage a fully valued acquisition of the company.
BEA's goal has been to maximize shareholder value, Chuang said. Icahn has sought a BEA shareholder meeting to take bids on the company.
Posted by Paul Krill on November 5, 2007 02:40 PM
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