• Most Popular
  • Most Shared

BEA Systems reiterates opposition to Oracle offer

Fri Oct 12, 2007 9:31pm EDT

Stocks

   

NEW YORK, Oct 12 (Reuters) - BEA Systems Inc BEAS.O reiterated its opposition to an unsolicited takeover offer from Oracle Corp (ORCL.O) on Friday in a sharply worded letter to Oracle President Charles Phillips.

Stocks  |  Mergers & Acquisitions

"Let me clarify your misunderstanding," William Klein, BEA's vice president of business planning and development, said in the letter to Phillips.

Klein reiterated that BEA is worth "substantially more" than Oracle's $6.7 billion, or $17 a share offer.

Klein said that, contrary to a statement by Oracle, BEA did not agree to meet with Oracle earlier Friday to start a process that might result in a definitive agreement by Monday. (Reporting by Chris Reiter)

Stocks
Mergers & Acquisitions


More from Reuters

Photo

Democrats reach deal on health bill

WASHINGTON (Reuters) - Senate Democratic healthcare negotiators said they agreed on Tuesday to replace a government-run insurance option with a scaled-back non-profit plan and would seek cost estimates on the deal.

» More Top News
File photo of snow covered Uhuru peak of the largest free-standing volcano in the world, Mount Kilimanjaro in Tanzania, taken on March 10, 2006. REUTERS/Neil Wallace
Postcards to Copenhagen:

Wish we weren't here

Mount Kilimanjaro's melting snow cap is one of many things forever altered by climate change. Here's a snapshot of a world dealing with environmental destruction.   Full Article 

Climate conference
People prepare to lower the body of one of the ministers killed in a blast from a suicide bomber last Thursday at Shamo Hotel in Somali's capital Mogadishu December 4, 2009. REUTERS/Feisal Omar
witness:

Scenes of a "slaughterhouse"

War is just about the only story to tell in Somalia. But when one reporter tried to cover an event reflecting positive change, violence reared its ugly head again.  Full Article 

World