Tech Watch | InfoWorld Staff » Oracle-BEA: It aint over till it's over

January 16, 2008 | Comments: (0)

Oracle-BEA: It aint over till it's over

TAGS: Platforms

Yogi Berra supposedly said it aint over till it's over. This is certainly something that applies to the newly announced merger between BEA Systems and Oracle that once looked like it had been abandoned.

After Oracle proposed buying BEA for $17 a share in October, BEA countered with a $21 per share proposal and then filed provisions with the SEC to ensure its employees received generous severance packages if anyone took over the company and employees were let go.

Oracle declined BEA's counteroffer and its original $17-per-share offer expired. Afterward, we heard Oracle CEO Larry Ellison say in November that probably no one would buy BEA and that BEA was doing a good job of trying to stay independent. He also said any subsequent offer by Oracle would be lower than the initial $17 per share. Also, Oracle President and CFO Safra Catz said in December that Oracle did not believe a friendly deal could be consummated with BEA's current board at an acceptable price.

Now, all of a sudden, the deal is done. BEA is sold to Oracle for $19.375 a share. Just goes to show what can happen behind closed doors and away from the peering eyes of the public and press.

Posted by Paul Krill on January 16, 2008 02:17 PM

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